Breaking News


Tata Steel Raises Hot-Rolled Prices on Higher Demand

Tata Steel Ltd. (TATA), set to become the world's fifth-biggest steelmaker after agreeing to buy U.K.'s Corus Group Plc in January, increased prices for the first time this year to match global rates.

The price of hot-rolled steel, an industry benchmark, was raised today by 1,000 rupees ($22.5) a metric ton, or 4 percent, Deputy Managing Director T.K. Mukherjee said. Rates of rebars, used in construction, was raised by as much as 500 rupees a ton.

``Global demand has pushed prices higher,'' Mukherjee said by telephone from Mumbai.

Hot-rolled steel sold at an average 26,000 rupees a metric ton last month in the spot market.

Jindal Stainless Ltd. (JDSL), India's biggest stainless steelmaker, will increase prices by as much as 5 percent from today for some products because of higher raw material costs.

It will raise prices of the 300-Series by as much as 10,000 rupees a ton to 210,000 rupees a ton, Managing Director Ratan Jindal said yesterday. Prices of the 200-Series will be raised by 2,000 rupees a ton.

To contact the reporter for this story: Debarati Roy in Mumbai at

To contact the editor responsible for this story: James Poole at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.