Domestic steelmaker Uttam Galva today increased prices of some of its products by Rs 500 a tonne, barely a week after deciding against such a move.
"Uttam Galva Steels announces an increase in the prices of its galvanised steel products by Rs 500 per tonne with immediate effect," the company said in a statement here.
The leading zinc-coated steelmaker attributed the increase to the rise in prices of the metal, which help in making the products anti-corrosive.
Zinc prices which were hovering at $1,730 a tonne level on the London Metal Exchange in July, has gone up to $1,980 a tonne in August.
On August 4, Uttam Galva had said that it would not increase prices of its products in August. Other domestic steel companies like SAIL, Tata Steel, JSW have not increased steel prices for August.
