Domestic steel firms set to hike prices by Rs 1,000 a tonne from March 1

Producers have raised product rates by Rs 1,750 per tonne in February

Prompted by strong demand growth in the domestic market, steel producers are set to hike product prices by Rs 1,000 a tonne from March 1. This will be the third rise in prices since February 1. 

“There is a growing demand for steel across sectors, and so all large producers are going ahead with a yet another price hike,” said an industry source in the knowledge of the development. 

Tata Steel, Sajjan Jindal-led JSW Steel, state-owned Steel Authority of India (SAIL), Naveen Jindal-led Jindal Steel & Power, and Rashtriya Ispat Nigam Limited are among top steel producers in the country. They had