Steel prices in Hyderabad, Andhar Pradesh moved up sharply on Monday after local steel makers reported uncertainties on power supply in the state.
“On new guidelines, power supply likely to remain critical for few more months.This might result is further cuts in steel production.Prices have gone up by Rs 500-1,000/t, except sponge and scrap.” said a steel manufacturer based in Hyderabad.
This will also result in increased supply from Maharashtra and other states, he further added.
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