India's largest steel producer, Steel Authority of India Ltd (SAIL), with an annual production of 14 MTPA has kept its May prices unchanged for HR/CR Coil and plates. Company has hiked prices by Rs 1200-1500/t in April looking at higher freight charges and improved demand.
Presently in Ludhiana HR Coil 2.5-3.5MM is trading at Rs 41,000+VAT, CR 0.90MM and above at Rs 46,000+VAT.
Other Indian players are also expected to keep their offers same as prices have come down in global market and also domestic demand will not support any price hike.
The Rourkela Steel Plant (RSP), a SAIL unit in Odisha, earlier said it has recorded 1.61 lakh tonnes of saleable steel in April. RSP said in a statement that it registered its best production of hot metal and crude steel in April. RSP produced 1.93 lakh tonnes of hot metal and 1.78 lakh tonnes of crude steel. The plant had produced 1.8 lakh tonnes of hot metal, 1.7 lakh tonnes of crude steel and 1.6 lakh tonnes of saleable steel in April last year.
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