PTI reported that Indian steel companies may hike prices by about INR 1,000 a tonne within a few days on pick up in demand after the end of monsoon. The companies expect demand rising from sectors like automobile and construction.

Mr CS Verma chairman of SAIL told PTI that "The trend is positive. Demand is picking up. Domestic prices primarily follow the international trend. Steel firms will take a call on this next month after analyzing prices of imported steel from countries like China.”

Mr Jayant Acharya director sales and marketing of JSW Steel said that "There is definitely a case for price increase. Globally prices have moved upwards by USD 50 a tonne in the past few months. There is an input cost pressure on us as well.”

Mr Vikram Amin executive director sales & marketing of Essar Steel said that "September is generally a good month for us in view of end of monsoon and festive season. Market is firming up, buoyancy is returning in the industry."

Steel prices have remained subdued since April.