New Delhi, July 30: Even as the steel sector witnessed a resurgence this year, bouyed by the rise in demand, leading steel manufacturers hiked the prices of various steel categories, including HR Coil, by Rs 1000-1200 per tonne on Wednesday .This is the second time in a month that steel product prices have been raised. On July 1, steel producers had increased prices in the range of Rs 400-700 per tonne. While most of the steel makers including SAIL, Tata, Ispat, Jindal Vijaynagar have effected a hike from Wednesday, Essar is reportedly expected to do it from Thursday.
The demand from China has been on an upswing as also from the domestic front, thus this rise (in prices) is very natural, they said.
HR coil prices are currently ruling around Rs 19,900-21,500 per tonne while CR Sheet is at Rs 24,000 -26,000 per tonne.

China had been a bit restrained in buying as it was facing a problem of stock piling, they said.
The demand is expected to go up further with the construction activity going on in full swing now after its recovery from SARS, industry sources said. Bureau Report