Indian steel plants increase prices

The largest manufacturers have become such as JSW Steelbse and Essar Steelbse decided to increase prices for their products this month. Private firms say that the decision was a forced measure against the background of increasing costs for materials due to a sharp decrease in the national currency course.

In addition, price increase is due to weak demand for steel of consumer and automobile brands. "We have no choice, except for the increase in steel prices. In the conditions of growth in coal prices and natural gas, the company is looking for an increase in prices in 1000-1200 rupees per ton," said Essar Steel official.

JSW Steel, a leading private manufacturer of the country's sector, is also going to review prices this month. "We plan to increase prices on commodity lines. We are negotiating with customers on this issue and will make a decision in the near future," said the company's marketing director Jayant Acharya. He explained that despite the slowdown in domestic demand, metallurgists are forced to increase prices.

The enterprises of the public sector, such as Rinl, which also import cooking coals, decided to oppose any increase in prices. "Rinl will maintain prices at the past month," the company representative said.

Analysts that track the state of the metallurgical sector of India consider this campaign to be justified. Most of the country's companies suffer from reducing the rupees of rupees. At the same time, international steel prices reached the lower limit, and raw materials rose.