JSW Steel plans to raise prices from January

Jayant Acharya, Marketing Director JSW Steel told Business line that JSW Steel LTD plans to increase steel prices from January by 2 percent. According to the report published by the company, the price value will be increased by 700 - 1000 Inr per ton, depending on the product specification. ($ 1 = 61,9700 Indian rupees).

Jayant Acharya said that the decision to increase prices was made to protect the company's income. The main reason for price growth is the growth of production costs. He said that "despite the growth in the cost of production, the company did not increase products for products due to a reduction in demand. Recently, the demand has improved, especially in rural regions, due to an increase in the crop of agriculture this season."

He added that the cost of production steel increased by 400 - 600 Inr per ton against the background of the recent increase in iron ore prices by 200-300 Inr per ton. To this, you need to add an increase in the price of 30 - 20 US dollars per ton in the GBS and coolant coal in order to take into account the general effect on the company. He said that the price of transportation has also increased significantly recently after increasing diesel fuel prices.

Other leading manufacturers, including Sail, Essar Steel, Tata Steel, Jindal Steel and Energy enterprises also plan to increase their prices in the coming days due to growth in production costs, industry representatives report. Although, not all companies confirm this officially.