Steel Authority of India (SAIL) has reportedly hiked prices by about 3-4 per cent for the current month. The company has hiked prices in the range of Rs 1,700-1,750 per tonne for HR-coil and CR-coil, while the company has raised long steel products price by about 1,000 per tonne.
The sharp fall of rupee against other currencies, mainly the US dollar, rise in oil prices and transportation costs are some of the major reason for the hike.
Recently, the company registered 16% growth in sales during the month of August ’13 by selling 10.86 lakh tonnes (LT) of steel products as compared to 9.38 LT in corresponding period last year (CPLY).
The sharp fall of rupee against other currencies, mainly the US dollar, rise in oil prices and transportation costs are some of the major reason for the hike.
Recently, the company registered 16% growth in sales during the month of August ’13 by selling 10.86 lakh tonnes (LT) of steel products as compared to 9.38 LT in corresponding period last year (CPLY).
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