SAIL hikes steel prices by Rs 1,000/ton

Steel Authority of India Limited said on Monday it has hiked prices across product categories by about Rs 1,000 per tonne to offset an increase in input costs.

"We have increased the prices across all our product categories by 3 per cent, or by about Rs 1,000 per tonne," a company official told PTI.

The official said the price hike was on account of an increase in input costs, adding that the revised steel prices were effective from January 1.

State-run NMDC recently raised iron ore prices by 5.22 per cent for the January-March quarter.

Coal prices are also on the rise. Both of the raw materials are key inputs in the steel-making process.

In November last year, SAIL had slashed prices of its products by around Rs 700 a tonne amid a softening global trend and appreciation of the Indian rupee against the dollar.