Steel Majors Hikes Price

Despite the sharp increase in the cost of raw materials, steel manufacturers have limited the hike in prices to a meager Rs. 350-500 a tonne due to uncertainty in demand post budget. However most steel companies have increased their prices by about Rs. 2,000 a tonne in the last two months citing surge in iron ore and cooking coal prices.
 
Due to uncertainty in the demand from the infrastructure and housing sectors, there is increase in the cost of funds. The slow demand from the automobile and consumer goods sector also appear to have forced companies to go for a major price hike.

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