Steel Authority of India (SAIL), country's second largest producer of Flat Steel following JSW Steel has raised its Flat Steel prices by INR 1,200-1,500/MT for Oct'13.
SAIL had produced more than 3.2 MnT of HR Coil in FY13 which is the second largest production after JSW Steel which had produced around 4.4 MnT.SAIL has the major market share in North India and its prices are considered as benchmark price for other primary Steel manufacturers.
SAIL has consecutively raised its prices this month as in Sep'13 prices were increased by INR 1,750/MT. A company official on the condition of anonymity said, “Price has increased considering better export deal, low domestic inventory and rising freight charges”
In Ludhiana HRC of 2.5 mm is offered at INR 43,000/MT (USD 680) inclusive of ED, taxes extra. Prices of Steel Authority of India (SAIL) may differ with the prices in retail end.
On the other side, JSW Steel, leading Flat Steel manufacturer of the country has decided to raise ex-factory prices of flat products by 1.5-2%, (INR 750-1,000/MT)W.E.F October 1, Sharad Mahendra, Senior Vice-President, flat products, said to the media.
Last month, JSW Steel had raised the prices of flat products by almost INR 3,000 per tonne whereas price hike by other Steel makers was around INR 1,750-2,250/MT.
Leave a Reply