Steel-makers such as SAIL and JSW Steel have hiked prices in
a sluggish market to offset the rising input costs.
The country's largest steel-maker SAIL has increased prices
of both long and flat products by up to 4% per with effect from October 15,
officials said.
JSW Steel officials said the hike is up to Rs 750/MT for the
October-December quarter. However, officials at Tata Steel said the company has
not increased any prices.
Analysts, however, are wary about steel-makers' latest
attempt to pass on the costs to consumers considering a sluggish demand for the
commodity. For the first half of current fiscal, steel consumption grew by a
mere 1.8 per cent according to latest estimates by Steel Ministry.
“It is not surprising that steel vendors are trying to
increase their prices. Whether they will be able to sustain that we will have
to wait and see,” said an analyst with a Mumbai-based brokerage.
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