New Delhi: Specialized steel maker Uttam Galva on Wednesday said it has hiked the prices of galvanized steel products by Rs2,000 a tonne with immediate effect due to increase in the cost of raw materials.
“Uttam Galva has decided to increase the prices of its galvanized steel products by Rs2,000 per tonne. The price hike in galvanized steel is due to the increase in prices of HR coil by the integrated steel producers,” the company said.
Four leading domestic steel producers—SAIL, Tata Steel, JSW Steel and Essar Steel—have already increased their prices by up to Rs 1,000 a tonne. Others like JSPL and Ispat Industries are learnt to be contemplating similar moves.
Galvanised steel products like GP sheets are available in the domestic market at about Rs40,000 per tonne at present.