Steel price increases by Rs 5000 per ton, know which companies likely to be affected

Steel price increases by Rs 5000 per ton, know which companies likely to be affected

Amidst increasing tension between Russia and Ukraine, steel prices are soaring. Zee Business’ Ashish Chaturvedi decodes which sectors are to be affected the most.

Chaturvedi said that Indian steel companies have increased the prices by Rs 5000 per ton to align themselves with the international market. Given that Russia is the 4th largest producer of steel and has a 12 per cent to 12.5 per cent contribution in the international market. 

Europe is facing a shortage of steel, and India is also experiencing increased demand for steel; domestic prices have increased as well, he added.

The production of steel is getting expensive because the expected increment in the prices of coking coal is approximately 20 per cent. Since India is dependent on export for coking coal to an amount of 25 - 85 per cent.

The positive impact is going to be on the steel companies, including Tata Steel, Hindalco, SAIL, JSW Steel Ltd.

For more details, Watch Full Video Here:-

RussiaUkraineWar से महंगा हुआ #steel
भारतीय स्टील कंपनियों ने बढ़ाए दाम
₹2500-5000/टन तक बढ़ी कीमतें

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