According to a report in Business Standard, Indian steel companies are set to increase prices from September owing to cost-push and higher international prices. BS report quoted at JSW Steel Director Marketing, Commercial & Corporate Strategy as saying that “The difference between domestic and international prices currently is about 8 per cent. An increase in prices from September is on the cards. The amount will be decided.”

 

Mr Acharya also explained that iron ore prices are at six-year high and international steel prices in August, too, have increased.

 

BS report added “The increase from September could be in the range of Rs 2,000-3,000 a tonne. While a major primary steel producer said an increase of Rs 3,000 a tonne in steel prices was being contemplated, a secondary steel maker said it could be Rs 2,000 a tonne.”

 

In the second quarter so far, steel prices have increased by about Rs 3,000 a tonne.

 

Source: steelguru