Steel costlier than Covid level after firms hike prices by Rs 2,000 a tonne

The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces

Steel firms have raised prices by around Rs 2,000 a tonne from this month, taking them higher than the pre-Covid levels. Most companies have increased prices of flat steel by Rs 1,500-2,000 a tonne from October 1. 

The average price of hot rolled coil (HRC), a benchmark for flat steel prices, is now Rs 43,500 a tonne. This was Rs 39,000 a tonne back in March just before the lockdown. The increase was on the back of a pick-up in domestic demand. 

Ranjan Dhar, chief marketing officer, AMNS India, said, month-on-month, there is an improvement in domestic demand. “After the lockdown, the