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Steel manufacturers increase HRC, CRC prices by up to Rs 4,500 per tonne – steel manufacturers increase hrc crc prices by rs 4500 per tonne

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Steel manufacturers increase HRC, CRC prices by up to Rs 4,500 per tonne – steel manufacturers increase hrc crc prices by rs 4500 per tonne

New Delhi, May 4 (Hindi) Domestic steel manufacturers increased the prices of hot rolled coil (HRC) and cold rolled coil (CRC) by Rs 4,000 and Rs 4,500 per tonne respectively.

Industry sources said on Tuesday that one tonne of HRC will be available for Rs 67,000 while one tonne of CRC will be available for Rs 80,000.

He said that prices have been revised in the last three days.

According to sources, the prices of HRC and CRC can be increased further by Rs 2,000 to Rs 4,000 per tonne. This increase may occur in mid-May or early June.

HRC and CRC are flat steel used in consumer friendly sectors such as vehicles, appliances and construction.

An expert said that the increase in steel prices is going to affect the prices of vehicles and consumer goods as steel is used as a raw material in these areas.

When contacted, a SAIL official said it was “market driven” and declined to say anything further.

While JSW declined to comment, AMNS India and JSPL did not respond to a question about the reason for the price increase.

At the same time, the builders’ organization CREDAI has increased the prices of various raw materials used in construction works since January 2020.

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