Mumbai, Apr 5: World's number eight steelmaker, Tata Steel as well as India's largest domestic steelmaker, the state-run Steel Authority of India (SAIL) have announced a price raise.
Officials from both the companies announced the decision to hike prices on Monday, Apr 5. The new prices, which will be effective from Apr 1, were inspired by the higher raw material costs.
Speaking to an international news agency, a spokesperson for Tata Steel said that the company has raised prices in India by a range of Rs 2,500 to Rs 3,000 a tonne.
Spokesperson for Steel Authority of India informed that prices had been raised by between Rs 2,000 and Rs 2,500 a tonne on the back of rising raw material prices.