BS reported that Indian steel producers, both secondary and primary, have raised the prices of long product by INR 1,000 to INR 1,500 a tonne.
As per report, public sector steel major Rashtriya Ispat Nigam Limited has raised prices by INR 1,000 to INR 1,500 a tonne across products.
Mr CG Patil director commercial of RINL said that average prices at the mandi had dropped to INR 22,500 a tonne in August, which were now at INR 25,000 a tonne.
Mr Patil s added that in July too there was some downward correction in long products.
He said “However, the worst seems to be over. In the last two months, while flat product prices were moving up, long products were showing a reverse trend due to the monsoon and fall in demand. Globally, both long products and flat products were on an uptrend.”
RINL expects prices to remain stable for the next few months.
As per report, SAIL has also raised prices by INR 1,000 a tonne.
(Sourced from http://www.steelguru.com/news/index/2009/09/10/MTExMDI4/RINL_raise_prices_of_long_products.html
Thursday, September 10, 2009
RINL raise prices of long products
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