Steel stocks have been in the focus on the back of the recent price hikes. The sector has already seen two price hikes in April and channel checks now indicate a third one could be on the cards.

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RK Goyal, MD of Kalyani Steel and Manish Sarda, Director of Sarda Group discussed this in detail.

“We are definitely looking for another price hike as our costs have gone up more than Rs 9,000,” said Goyal.

"We have been forced to take price hikes as NMDC has increased the prices and a couple of other private miners for iron ore have increased their prices,” Manish Sarda added.

“Apart from that coal cost has also gone up. So if the costs are going to increase, we will have to increase prices as well,” Sarda explained.

Goyal said that the price increase in October end and in April is very normal. However, he believes that the market is behaving very unusual and the volatility in the market is very high.

“Demand of export markets has been good. It is picking up well and we are moving around 17 percent of what we are producing,” Sarda explained.

For the entire conversation, watch the video...

(Edited by : Anshul)

First Published:Apr 22, 2021 1:10 PM IST