Coronavirus outbreak: Uncertainty looms large over steel's April price hike

The steel sector has been gradually recovering from lows since November

Steel prices that had increased this month are still holding ground in spite of the coronavirus outbreak which has put the global economy on the edge.

In March, companies had increased prices across-the-board by Rs 500-800 a tonne, the fourth in a row, taking the hot rolled coil (HRC) price to Rs 37,000 a tonne. However, companies are not sure whether an increase in April will be possible in the wake of the virus outbreak.

M C Agrawal, executive director (sales & ITD), Steel Authority of India Limited (SAIL), said the price increase in March was holding. "There is no