New Delhi: Pipe maker Jindal Saw Ltd will hike prices for its products by up to 8 percent, in line with rising steel prices, a senior official said on Monday
Many steelmakers, including Tata Steel , JSW Steel, Bhushan Steel & Strips, Essar Steel and Ispat Industries, have raised or said they would raise prices of the steel products they sell.
“When you are bidding for projects two quarters in advance, then you put pricing accordingly. I need to have higher price tags,” Managing Director Indresh Batra told Reuters in an interview.
“I believe (the hike) should be 7-8%.”
Jindal Saw, which makes pipes used for transportation of oil and gas, has orders worth Rs1 billion to be completed over the next nine months, Batra said.