homeenergy NewsSteel makers raise prices by Rs 4,000 per tonne in December 2020, here's what expert has to say
Steel makers raise prices by Rs 4,000 per tonne in December 2020, here's what expert has to say
Steel companies have increased prices by Rs 1,500 per tonne for a second time in December 2020, sources privy to the developments told CNBC-TV18.
Steel companies have increased prices by Rs 1,500 per tonne for a second time in December 2020, sources privy to the developments told CNBC-TV18.
Just last week only, steel prices were increased by around Rs 2,500 per tonne. If we put together price hikes in the month of December, it has been increased by nearly around Rs 4,000 per tonne.
CNBC-TV18's Nigel D'Souza gives more details on the price hike.
Amit Dixit, Edelweiss Institutional Equities said, "At this point in time, there is lot of scepticism in the market regarding the sustainability of these price hikes and therefore, nobody is actually factoring it in as sustainable EBITDA per tonne. As far as I see it, at least in the next quarter, I see that things should be good particularly because of steel shortage in India."
"Stocks such as Tata Steel and SAIL have some headroom to go but there are stock that are fully valued at this stage and these could be avoided," Dixit added.
Watch this video for more.
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(Edited by : Jomy Pullokaran)
First Published: Dec 8, 2020 4:54 PM IST
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