JSPL hikes flat steel prices by Rs 1,000/ton and long steel by Rs 500/ton for March.

For steel plates and coils, JSPL has increased
the prices by about Rs 1,000 per ton, while the price increase in long products
is at around Rs 500 per ton, JSPL's Deputy Managing Director and CEO-Steel
Business V. R. Sharma said to PTI. 

 “The prices of plates and coils were low
due to the selling pressure and low margins. That's why we have increased the
prices,” he said. Presently plate Ex-Raigarh of 8-10MM is at Rs 36,000/ton (Basic, ED and taxes extra) of 2.5mtr length and 20-40MM is at Rs 34,000.

JSPL flat steel buyer based at Nagpur said, 'Increase in price will not impact the retail price as competition is high and
demand is low. SAIL has also kept prices unchanged.'