As steel demand picks up, companies turn to home market; prices may go up

A pick-up in demand for steel and successive price increases is prompting companies to bring back focus on the domestic market.

Steel companies are mulling an increase in prices up to Rs 2,000 a tonne in February, which would be the fourth increase in a row. The price differential between domestic steel and imports is approximately $30 a tonne currently.  

JSW Steel, director (commercial & marketing), Jayant Acharya said there is a potential for prices to increase to that extent.

Add to it, an increase in international prices by $50-$100 a tonne in the last few months and an upward