News > Steel prices hiked on the back of escalating geopolitical tension

Steel prices hiked on the back of escalating geopolitical tension

Following the hike, prices of hot-rolled coils have hit a record high of ₹65,000 a tonne as steel companies passed on the sharp increase in raw material prices, said a company official.

Costs of sea freights and insurance, too, are likely to shoot up, while disruption in nickel supply could keep both nickel and stainless steel prices in the stratosphere, it added.