In order to sustain profits, the Indian steel companies such as JSW Steel, Essar Steel, and Mukand Steel plan to increase price by RS 1,500/ton in January, 2014.
It’s learned that the price rise is driven by higher costs of iron ore and freight rate.
The steel market demand in China, the US and Europe steel market is growing which provides some good opportunity.
Market participant is observing whether the Indian mill will raise price successfully since the market demand remains weak.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67869&division=A2
