Delhi: Steel companies may raise steel prices due
to a supply-demand mismatch that has developed in select
steel products during the past few weeks. Steel makers
had increased the prices immediately after the Budget
and had later rolled them back following the intervention
of the Finance minister, P Chidambaram.
steel manufacturing industry sources said there were shortages
ranging between 10 and 15 per cent in heavy plates that
are 16-cm thick or more, there is almost a 15 per cent
short supply in the Northern region. And given the weight,
their imports are also expensive said officials in steel
heavy plates are mostly used in the manufacture of heavy
machineries such as dredgers, excavators, mining machineries,
army tanks and power equipment. They are also extensively
used in the Metro railway construction, company officials
supplies are also also 10 to 15 per cent lower than demand
in hot-rolled coils of width 2mm and less. The third group
of steel products where a large number of small players
are involved is reinforced bars used in construction.
Industry officials said that the supply was lower by around
10-15 per cent across the northern region, which is seeing
a construction boom.