After a 3-4% steel price hike in the month of September, a fresh hike in steel prices expected
It is learnt that steel companies will review steel prices in October. Sources add that steel could be expensive by around Rs 1000 per tonne as steel companies see room for another 5-6% hike.
Some of the steel companies like JSW Steel,Tata Steel, Ispat Industries and Essar Steel have already increased price of flat steel by Rs 750-1,500 per tonne in September too.
However, domestic steel price is cheaper than the imported ones. Flat steel prices in domestic market is currently at Rs 38,000 per tonne and long steel price is in the range between Rs 30,000-32,000 per tonne. In the international front, steel price have moved up 10-15% in last few months
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