It’s reported that the four major steelmakers in Indian announced to raise the prices of steel products by INR500~INR1,400/ton for January. Rashtriya Ispat Nigam Ltd (RINL) announced to increase its steel product prices by INR500/ton. JSW Steel hiked its steel prices by 2%. At the same time, Essar rose steel prices by 3%~4% and Jindal Steel and Power Limited (JSPL) increased steel prices by INR1,000/ton. It’s analyzed that the four major steelmakers hiked the prices for January in order to enhance buyers’ confidence. Also, the improved demand, the increased steel prices in international market and higher prices of iron ore and energy have supported the Indian steelmakers to increase steel prices.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62406&division=A2
