Steel makers raise prices by Rs 1,200 per tonne on demand uptick

Prices are now closer to peak levels of 2018

Steel companies have increased prices by Rs 1,200 a tonne effective November 1, bringing it closer to peak levels of 2018.

In November 2018, prices of hot rolled coil (HRC) — a benchmark for flat steel — were at Rs 46,250 a tonne. 

However, prices were reduced the following month. Prices of HRC were close to Rs 45,000 a tonne after the current increase. According to a producer, while HRC prices were increased by Rs 1,200 a tonne, the rise in prices of galvanized and colour coated products were higher, but widely varying.

V R Sharma, managing director, JSPL, said the company had