What looked like a dream even two months ago is turning out to be reality for Indian steel-makers. Domestic steel-makers are set to announce the fourth round of price increase with effect from July 1, which would involve hikes in the range of Rs 1,000-1,500 per tonne for hot-rolled coils.
The increase will take the hot-rolled coil prices close to their highest levels in the last two years.
Galvanised steel prices are also set to go up by another Rs 2,000-2,500 a tonne, and will cross the Rs 34,000 per tonne mark, against Rs 32,000 per tonne just two weeks ago.
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The price level for galvanised products in the lean season, which has set in with monsoon, is around 40 per cent higher than what it was in the peak season two months ago. The price of galvanised products then was around Rs 24,000 per tonne.
Barin Das, senior vice-president of Ispat Industries, said: