RINL hikes product prices

Railway freight alone puts a burden of around Rs 100 cr a year on the company

Rastriya Ispat Nigam Limited has increased its entire product prices by Rs 350-1,000 per tonne from Wednesday. This is the third increase in prices in the last four months. Increase in several inputs costs and iron ore prices by NMDC and hike in railway freight charges by 6.5 per cent had led to the increase in steel prices, it said.

Railway freight alone puts a burden of around Rs 100 crore a year on the company. The company has increased TMT rebar prices by Rs 500-1,000 per tonne, rounds, structurals, semies by Rs 350-700 per tonne and wire rods by Rs 350-400 per tonne, a release stated.