Steel firms set to raise prices from Sept on higher costs, global prices

JSW Steel said on Thursday that it had started the roll-out of JSW Radiance, a steel colour-coated product range in high-gloss feature with multiple variants

Steel companies are set to increase prices from September owing to cost-push and higher international prices.

Jayant Acharya, director (marketing, commercial & corporate strategy) at JSW Steel, said the difference between domestic and international prices currently was about 8 per cent. “An increase in prices from September is on the cards. The amount will be decided,” he said.  

Acharya explained that iron ore prices were at a six-year high. “International steel prices in August, too, have increased,” he said. 

The average free on board China for hot-rolled coil (HRC) in April 2019 was $532 a tonne. At the beginning of August 2020, it