Indian VSP considers a further price hike
Despite the government's suit not to increase the prices any further for a while,
India's state owned steel making plant, Visakhapatnam Steel Plant (VSP) is considering to go for a further price hike of its products if necessary, according to sources in the industry.
The prices have already been lifted by Rupees 3'000-4'000/mt (approx. $65-85/mt) during the last seven months by the company. The company explains this and a possible future price increase by relating same to the increasing
production costs as well as the high demand in the market. The rise in the input costs is in close relation to the skyrocketed
freight rates that are paid by VSP for imported raw material.