Steel firms hike prices by Rs 2,000 a tonne in 10 days on demand spike

Business Standard | Aug 2, 2020 at 2:00 AM
  • Steel companies have increased prices by about Rs 2,000 a tonne during the past 10 days, on the back of an increase in domestic demand and international prices, taking it to near-pre-Covid levels.
  • China produced 91.6 million tonne of crude steel in June 2020, an increase of 4.5 per cent compared to June 2019.
  • Jayanta Roy, senior vice president ICRA, however, pointed out that despite the growth over months, domestic demand remains quite fragile, and was down by over 40 per cent in June in year on year terms.