TISCO to hike prices in April

TISCO to hike prices in April

Indian steel producer Tata Iron and Steel Company (TISCO) confirmed that it will hike its prices by Rupees 5'000 ($114) per ton as of April 1, 2005. In line with this price hike, TISCO prices will range between Rupees 23'000-30'000 ($526-686) per ton for various grades of steel products. Company officials said that price increase is necessary to offset rising coal and iron ore prices. Sources report that Indian producers Jindal Vijayanagar Steel and Essar Steel will also announce price hikes soon.