Visakhapatnam Steel Plant (VSP) is planning to increase its product prices by 3-4 per this week . The steel plant had already increased the prices by 15 to 17 per cent in the last one month.
Over the last one month, VSP had hiked its prices by Rs 6,000 per tonne on all products. On March 1, it raised the prices by Rs 1,500 per tonne and on March 17 by another Rs 1,500. Again on March 27, it increased the prices by Rs 3,000 per tonne.
According to company sources, the steel plant is seeing good demand for its products in the market, and is, therefore, planning to increase the prices again.
VSP products are currently available at Rs 40,500-41,500 per tonne (wire rods), Rs 33,540 per tonne (billets) and Rs 26,957 per tonne (pig iron).
For the financial year ended March 31, 2009, its sales turnover stood at Rs 1,0611 crore, the sources said.