“Indian primary producers might raise long steel prices in Jan”- Sources

Indian primary producers like SAIL, Tata and Jindal might raise offers for long steel with effective from January reported market sources.

“Chances are quite high that big manufacturers in India might go for a price hike on factors like improved demand, low production and inventory levels with secondary steel manufacturers and rising steel prices in global market.” said Mr Agarwal, an analyst with a research firm based in Mumbai.

In a recent interview SAIL chairman Mr C.S Verma also highlighted that domestic steel prices have shown signs of improvement. Although global prices have raised up to 15% where as Indian steel prices are yet to see such gains.

Long steel prices in India have gained up to Rs 1,500 per tonne in last few days.