Steel prices may rise by 6-10 percent

Global steel prices are expected to rise 6-10 percent this month, reducing the current domestic rebate to the cost of imports.

Steel companies plan to raise prices amid rising raw material costs and picking up demand across all sectors, including infrastructure, construction, capital goods and the automotive sector.

Steel prices in the US jumped to $ 900 a tonne after the anti-dumping duty was collected, while prices for China, Korea and Japan hover around $ 700 a tonne. However, it is trading at a 9 percent discount on the value of the land at $ 640 a tonne.

Jayant Acharya, director of commercial and marketing at JSW Steel, told BusinessLine that global steel prices are rising with economic growth, and China has cut production by 75 million tonnes last year, and production this year should cut output. products for 50 tons.

It is in isolation, in demand in China itself, which gives great comfort to large steel consuming countries such as India.