Indian steel majors have raised
the price of steel between Rs 500 and Rs 800 a tonne in the wake of higher input costs and shortage in the international markets as coronavirus have hit China's steel production.
"Tata Steel has raised the price by Rs 500-750 a tonne, a senior Tata Steel official told PTI.
"We have raised the price of steel between Rs 500-800 per tonne from March 1," a senior JSW Steel official said.
"Coal price has moved up by USD 13 per tonne and iron-ore price has also moved up and remains firm. While, due to Coronavirus outbreak in China, production in the dragon country is predicted to be lower," the official said.
The fall in exports from China has opened up Indias export opportunity, especially to some of the South-East Asian countries.
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