September 06, 2008

UGSL to hike HDG prices by INR 1000 per tonne in January

Uttam Galva Steels Limited announced that it would increase the prices of all its galvanized products by INR 1000 per tonne to INR 47000 per tonne with effect from January 1st 2008.

Mr Ankit Miglani director commercial of Uttam Galva Steels Limited, while commenting on the price hike, said that “The December 2007 contracts are currently being executed. All bookings now will be due for delivery in January 2008. The price hike has been announced keeping this in mind. This increase is based on strong market fundamentals and a very strong order book. We are also certain that steel and zinc prices will rise significantly in 2008.” He added that it may announce an additional price hike between the January 10th and January 15th 2008.

Uttam Galva Steels Limited is a one of the largest exporter of cold rolled steel and galvanized steel in India. In the domestic market, it is a major supplier to the automobile, white goods, general engineering and construction industries. It currently exports its products to more than 131 countries including Australia, France, Germany, Greece, UK and USA.