India: JSPL hikes Plate Prices by 2%

JSPL, one of the primary manufacturers of Plate has hiked its prices by 2%. The company has an installed capacity of 2.5 MnT pa and primarily manufactures Hot Rolled coils & Plates. Last month, the company has held its prices unchanged, however this time the management has decided to hike Plate prices by around INR 500-700/MT.

As per industry sources, markets have seen mild revival of sentiments against previous quarters, but production has not improved accordingly. As per JPC reports, JSPL produced 0.24 MnT of crude steel and 31,000 MT of Plates for the month of January, whereas SAIL produced around 213,000 MT of Plates in the corresponding month. JSPL & SAIL mainly caters to the needs of the domestic markets, whereas Essar majorly exports to international markets.

[su_quote cite=”An Official from JSPL”]We are manufacturing plates based on specific requirements of clients. We are seeing a good demand in the market and expect the prices to be accepted by the market. [/su_quote]

Many experts believe that announcements of election could slowdown the execution of many projects. This might bring down the demand for Flat products. The upsurge in prices comes after other manufacturers like SAIL; JSW & Essar raised their prices for Flat products. Manufacturers are still assessing the impact of this price hike in the market. Many believe that this rise in prices may not be absorbed in the market. The revised prices for plates of different thickness are as follows:

All Prices in INR/MT.