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Tuesday, Jan 04, 2005

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Steel, aluminium prices hiked

Our Bureau

New Delhi , Jan. 3

FOLLOWING the price hike of Rs 500 per tonne by Steel Authority of India Ltd (SAIL), other private producers on Monday announced hike in prices of hot rolled (HR) coils by the same amount. The new prices would be in the range of Rs 28,000 per tonne to Rs 29,000 per tonne.

According to industry players, contracted coking coal prices have gone up by 2.2 times for the year 2005 to $125 (about Rs 5,600) from $58 (about Rs 2,600) last year. SAIL officials said they had last revised steel prices downward by Rs 1,000 a tonne in August 2004.

The country's second-largest aluminium maker, Nalco said it had raised aluminium prices by Rs 2,000 per tonne with effect from January 1. "The prices have been revised in line with the LME (London Metal Exchange) trend," a company spokesman said.

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