Kolkata, Aug 08: Riding high on the buyoant market, the Steel Authority of India (Sail) has decided to make another hike in the price of its long products within a week, company sources said. Sail had effected an increase in prices of its products from the midnight of July 31.
The company might effect a hike of around of Rs 500 per tonne on its long products, they said
The increase in long product price is likely to come into effect from midnight tonight, the sources said.
They expressed confidence that the market would be able to absorb the price hike and said that the surge in demand of long products resulted mainly from the construction activities.
The sources said that the company had surpassed its target in long product segment in July and had a record production of 8.8 lakh tonne against the target of 6.5 lakh tonne.
Bureau Report