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Tata Steel has hiked prices of the metal alloy in the
domestic market by Rs.1,000/MT for February, a top company official said
on Friday.
“We have increased the prices by about Rs 1,000 per tonne in
February,” the company's Chief Financial Officer Koushik Chatterjee said
in an investor conference call. He added that there is an uptrend in demand in
the domestic market, particularly for the long products.
New prices are in the range of Rs 37,000 per tonne, industry sources said,
adding that Tata Steel had also increased prices marginally last month for the
long products. Chatterjee, however, did not elaborate about the product
categories in which the prices have been raised.
The announcement comes barely a few days after Steel Authority of India (SAIL)
increased its ex-factory base prices by about 3.9 per cent for the current month
for certain long products like TMT Bars and angles, which are mainly used in
construction sector.
During the first nine months of the current fiscal, the demand for steel in the
country has risen by just about 5 per cent and now the companies are pinning
hope on RBI easing the monetary policy for the revival of demand.
Source: The Economic Times
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