Uttam Galva increases prices

Uttam Galva Steels Ltd, India's second largest galvanized steel manufacturer, reportedly hiked its prices of all its products due to the rising manufacturing costs. The prices of cold rolled steel and steel by-products have been increases by Rupees 2,500/mt ($56/mt) with immediate effect. Domestic price for galvanized steel products has been hiked by Rupees 1,500/mt ($33/mt). Uttam Galva officials indicated that they expect steel prices to pick up further and they may consider more price hikes near term.