Steel Authority of India (SAIL) has made a policy to increase the sales price of a certain steel products. Increase the price of steel products 1.500/ton Rs. Steel products such increases, Hot Rolled (HR) and Cold Rolled (CR).

Largest steel company in India, Tata Steel also increased steel product produced by 3-4 percent. This price increase will take effect from September 1 for the entire month.

JSW Steel, the largest private steel producer in India, there has not confirmed the price increase for the month. Koushik Chatterjee, Group CFO of Tata Steel on May 28 had said, “Especially, the average product prices in the first quarter of FY10 is higher than the fourth quarter of FY09. We see also that the firmness of products developed in the flat areas.”

NDTV previously reported that the steel company is set to increase the price of Rs 1,500-2,000 / tonne on flat products. Hot Rolled steel prices expected to hover around Rs 32,000 / tonne in September. This is the boys is higher than the international HR steel prices at $ 600/tonne (approx Rs 30,000). Last international orders for imported steel in India is at $ 600/tonne, which is an increase of more than $ 20/tonne in the last 15 days. International steel prices increased by Restocking consideration by the European steel users.

Ankit Miglani, Director of Uttam Galva Steel, secondary steel producer said, “We may raise prices as soon as we get confirmation from our suppliers.”

Tarang Bhanushali, senior analyst with IndiaInfoline Metal said, “the domestic steel prices will increase by $ 30-40/tonne however, will be stable at that level throughout the quarter international prices are also expected to slip.”

This price increase is the sixth fuel price in the flat steel products in the financial year 2009-10. It’s part of a series of gradual price increases seen in the price of HR. Long product prices have been falling in the rainy season when the demand from the construction sector weakened.

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