MUMBAI, April 5 (Reuters) – India’s two largest steelmakers have raised prices across categories by 5 to 10 percent from April 1, citing higher raw material costs, officials at the two companies said on Monday.
Tata Steel (TISC.BO), the world’s No. 8 steelmaker, has raised prices in India by a range of 2,500 to 3,000 rupees a tonne, a company spokesperson told Reuters. The India operations account for a quarter of its global capacity of about 30 million tonnes.
Earlier, a spokesperson for state-run Steel Authority of India (SAIL.BO), the country’s largest domestic steelmaker, said prices had been raised by between 2,000 and 2,500 rupees a tonne, on the back of rising raw material prices. ($1=44.6 rupees) (Reporting by Prashant Mehra; Editing by Aradhana Aravindan)