SAIL surprised market and MoU holders, with hike in price by Rs 500/ ton for March

SAIL, the largest domestic steel maker, has
increased the prices for its products by up to Rs 500 per ton for March, company's Chairman C. S. Verma said today. 

 SAIL is the second company after Jindal Steel
and Power (JSPL), which has announced price hike for March.  TATA, Bhushan
and ESSAR might follow the line. 

 Whereas, trader and MOU holders in NCR and
Northern region are confident that price will be reversed in mid march. 'Every
Month primary producers hike the prices but due to low booking and flat demand
either prices are rolled back in mid of the month or discount is announced,' said MOU holder based in Ludhiana.  Further, he added, January four companies
has announced the price hike by Rs 700-1500/ ton but retail prices remain at
same level of Rs 39,800-40,300+VAT (Basic prices Rs 36,000)

 Similarly, Delhi MOU holder said, 'GP sheet of
0.7 mm and above are selling at Rs 49300-500+VAT before Jan hike and now also
its selling at same price'.

 JSPL has said that it has increased the prices
for plates and coils by about Rs 1,000 per ton for the current month and by
about Rs 500 per ton for long products citing shrinking margins and rise in
input costs. JSPL 8-10MM plate is offered at Rs 34,500 (Basic, ex works) after
a hike.