February 1, 2011
Tata Steel, JSW Steel and Essar, the major steel mills in India, have indicated that they would soar the steel prices by INR1, 000~INR1, 500/ton for February due to price up on raw material costs.
Indian steel mills have increased the prices for two times since this January. If they do increase the prices further in February, the price hike will reach INR4, 500/ton equal to US$100/ton.
Meanwhile, the steel prices have soared as well in global market. It’s said that the steel flat product prices in Europe and U.S. have hiked by 10% and 37% respectively. Also, the prices in Russia have increased by 30% since last November.
News Source www.yieh.com
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