It’s reported that the depreciation of Indian currency caused high production cost for the Indian steel mills.
JSW Steel and Essar Steel announced to raise its price for its steel flats and longs for August.
Essar Steel has announced to raise the price by INR1,000~INR1,200/ton for all the steel products on August 1st, while JSW Steel also plan to raise its price by about INR1,000~INR1,200/ton but they are still negotiating with their customers.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65710&division=A2
