Steel prices soaring on Russia-Ukraine tensions, expect Rs 10000/t hike from April: Kalyani Steels

Steel prices are inching higher due to Russia-Ukraine war tensions, said RK Goyal, managing director of Kalyani Steels, on Wednesday.

In an interview to CNBC-TV18, he said, “We will be taking price increase with our auto OEMs and most likely within March we will be able to settle the price increase which will be effective from April 1st, but this price increase is because of cost-push.”

“With an increase in cost there is tremendous pressure on margin, but we are expecting a price increase more than Rs 10,000 from April 1st. if we get that then a good position of our cost will be compensated,” said Goyal.