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Steel makers hike prices of HRC, CRC by up to Rs 4,500 per tonne
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Last Updated: May 04, 2021, 08:46 PM IST
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After the price revision, a tonne of HRC will cost Rs 67,000 while the buyers will get CRC for Rs 80,000 per tonne.
PTI
Domestic steel makers have hiked the prices of Hot Rolled Coil (HRC) and Cold Rolled Coil (CRC) by Rs 4,000 and Rs 4,500 per tonne, respectively, industry sources said on Tuesday.
After the price revision, a tonne of HRC will cost Rs 67,000 while the buyers will get CRC for Rs 80,000 per tonne.
The price revisions have been made in the last three days, the sources said.
Steel Prices in U.S. Soar, Steel Dynamics to Expand Flat-Rolled Operations
Industry Segment: Metals & Minerals | Word Count: 663 Words
SUGAR LAND April 19, 2021 Researched by Industrial Info Resources (Sugar Land, Texas) It s a good time to be a steelmaker in the U.S. Steel prices are soaring, and companies are having problems meeting increased demand from end users. This low supply and high demand, along with former President Donald Trump s 25% tariff on imported steel, have been boosting domestic prices. As of late February, U.S. steel prices had risen 160% since last August, according to news media. Despite some uncertainty on whether the Biden administration will maintain the Trump-era tariffs, some steel companies are expanding operations. To this end, U.S. steelmaker Steel Dynamics Incorporated (NASDAQ:STLD) (Fort Wayne, Indiana) said last week it will be expanding flat-roll operations with new coating lines in the southern U.S. and Midwest.
The board of Balrampur Chini Mills on Saturday (10 April 2021) approved the revised capex of Rs 425 crore for the 320 kilo litres per day (KLPD) distillery plant.
On 4 November 2020, the company s board had approved a capex of Rs 320 crore for the aforementioned capacity addition project.
The company said that the increase in capex to the tune of Rs 105 crore is mainly owing to the inclusion of 20 KLPD of extra-neutral alcohol (ENA), higher storage capacity for raw material and finished goods, sharp rise in steel prices and change in designs of equipment to bring in more efficiency and embrace automation. The higher investment would result in higher efficiency, better recovery of ethanol from juice which will add to the bottom line and will result in better payback than envisaged earlier, it added.
"We are in an advantageous position as we have a land bank, which not many have. All our plants have extra land. We have done a detailed study keeping this land bank in mind and we have been able to accommodate a total capacity of around 50 million tonnes from the present 20 million tonnes."