The price of imported high grade cold rolled steel in India is likely to go up in the next couple of months.
The South Korean steel major, POSCO has already said that it is studying the Indian market for a possible price hike in the next two months. Other companies like Nippon and Sumitomo, supplying CR steel to India, may follow suit. India imports high grade steel at $400 per tonne. Earlier, exporters were selling at a price lower than the corresponding Indian product.
A senior Posco official said quantum of price hike was yet to be decided.
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