SAIL increases steel prices

SAIL increases steel prices
PTI
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First Published: Wed, Sep 02 2009. 06 26 PM IST
Updated: Wed, Sep 02 2009. 06 26 PM IST
New Delhi: The country’s largest state-run steel producer, SAIL, on Wednesday increased the prices of some of its products by Rs1,500 a tonne in line with the rising international prices.
“We have raised the prices of our flat products (used for car manufacturing) by Rs1,500 a tonne in line with the rising international prices,” SAIL spokesperson R. K. Singhal told PTI.
Ex-factory price of the product is Rs29,000 per tonne, as per information. The flat products are used in making cars and appliances.
Earlier, leading private producer Tata Steel too had hinted at a marginal price hike in its products in view of the increased demand in the automobile and infrastructure sector.
“If the demand is good, if the economy improves...then there is a chance of prices marginally going up,” Tata Steel managing director B. Muthuraman had said.
The company had increased the prices of its flat products in select spot markets by Rs500 to Rs1,000 a tonne in the first week of August. The company had also increased rates of its long products in April-May by Rs1,000 a tonne and had hiked prices of some of its products in June by Rs500 to Rs750 a tonne.
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First Published: Wed, Sep 02 2009. 06 26 PM IST