Indian steel prices gain 8-10% in a month's time

Indian steel prices have moved up substantially in a months time. Prices have almost increased by Rs 2,000-3,000 per ton on different products.

Thanks to new pricing policy by Coal India, which has made linkage coal expensive by Rs 8,00-1,000 per ton, rise in iron ore prices and weakening rupee which has made imports of scrap and coal dearer by almost 10%.

“Indian steel industry is going through a tough time, despite steep hike in prices, market participants are not happy.Demand has not increased in proportion to increase in prices.” said a steel manufacturer based in Nagpur (Maharastra)

Steel prices have moved up by 8-10% in a months time, a month back Re-bar was trading at Rs 35,000 per ton , which is now trading at 37,800 per ton, he further added.