Bouyed by rise in demand, leading steel manufacturers have increased prices in various categories of the product, including HR coil, by Rs 1,000-1,200 per tonne. While steel makers including Sail, Tata, Ispat, Jindal Vijaynagar have hiked prices from Wednesday, Essar is expected to do it from Thursday, sources said. The demand from China has been on an upswing as also from the domestic front, thus the price rise is natural, sources said. HR coil prices are currently ruling around Rs 19,900-21,500 per tonne while CR sheet is priced at Rs 24,000-Rs 26,000 per tonne. Steel producers had increased prices on July 1 in the range of Rs 400-700 per tonne. China had been a bit restrained in buying as it was facing a problem of stock piling, they said. The demand is expected to go up further with construction activity going up.
