Increase In Steel Prices Will Affect Construction, Auto Sector

Mumbai. In the Corona era, now the price of steel will also have to face an increase. Manufacturers have made hot rolled coil (HRC) costlier by Rs 4,000 per tonne and cold rolled coil (CRC) by Rs 4,900 per tonne. Now the cost of building a house will increase. Difficulties in the real estate sector will increase. Automobile manufacturers will be forced to increase the prices of cars, tractors etc. At the same time, consumer goods will also be expensive. This game of increasing the price will have an adverse effect on other sectors including the country’s business.

depend on the market
Companies say that there is a lot of demand for steel in the world. This price increase is dependent on the market trend. Iron ore has also become expensive. Production cost has increased. If the prices are not increased, the manufacturers will suffer losses. The demand in the domestic market is weak. The price of steel abroad is as high as 20%. Manufacturers are taking advantage of the opportunity by increasing exports.


Source: Patrika : India's Leading Hindi News Portal by www.patrika.com.

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