According to report, India’s Visakhapatnam Steel plant will raise its product prices by INR1, 000~INR1, 500/ton starting next month on strong demand in domestic market.

Meanwhile, it is about 4%~ 5% rises in January. Also, the company has produced about 3 million tons of steel a year.

The other steelmakers for flat steel products will also hike the price for the next month, including SAIL, Tata etc.

According to the data, India’s gross domestic product has rose about 8.75%, especially from construction, engineering and manufacturing sectors which push up the steel prices on higher demand.

At the same time, raw material prices have increased including coking coal and iron ore over the last few months.

It’s known that the coking coal prices have increased from US$129/ton to US$215/ton. The price for coking coal is not trading at US$ 245/ton in the spot market.