Indian steel producers to keep current price levels

Indian steel producers to keep current price levels

According to statement released by officials from five Indian steel producers; Steel Authority of India Ltd, Tata Iron and Steel Corp (TISCO), Essar Steel, Ispat Industries and Vijaynagar Steel Ltd, they do not consider hiking prices this month. An official from SAIL stated that, they will keep hot rolled coil price of Rupees 25'000 (approx. $550) per ton this month due to stable market condition. Moreover, the other four producers are not expected to hike prices due to same reason. Meanwhile, there are steel producers in India that still suffer from raw material shortage. These producers reportedly may increase prices. As previously reported by SteelOrbis, these five producers had increased prices to Rupees 27'000 ($594) per ton level in February however determined to decrease to Rupees 25'000 per ton level in March, taking the demand of government into consideration.