Domestic wholesale steel prices have seen a hike of 4.5-6.2% from the beginning of the current month. The prices doubled in the last one year.
Industry sources said, with effect from June 1, steelmakers have raised the wholesale price of hot-rolled coils (HRC) by up to Rs 3,000 per tonne taking it to Rs 69,000/tonne in the wholesale Mumbai market. Similarly, the price for cold-rolled coils (CRC) have also been increased by around Rs 5,000 a tonne to Rs 86,000 per tonne.
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