Kalyani Steel in discussion with OEMs for price hike
Steels stocks are rising as reports suggest that there has been a surge of close to around Rs 1,000-2,000 per tonne in the prices of both hot-rolled as well as cold-rolled steel.
The biggest reason for that is strong demand coming in from auto companies and at the same time, some bit of increase in raw material prices as well.
RK Goyal, MD of Kalyani Steel and Amit Dixit, Research Analyst at Edelweiss, shared their outlook going ahead in an interview with CNBC-TV18.
Kalyani Steel is in discussion with original equipment manufacturers (OEMs) for price hikes and it will be settled soon, Goyal said. Currently, the prices are the same as Q1's, he added.
Demand is strong for passenger vehicles (PVs) as well as commercial vehicles (CVs), Goyal mentioned.
Steel prices in India are fairly low compared to China, Dixit said.
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