V R Sharma, managing director, Jindal Steel and Power (JSPL) said the Russia-Ukraine war will create a void of around 3.5 million tonne steel in the international market on a monthly basis. Benchmark hot-rolled coil (HRC) prices have already increased by over $150 a tonne or 15% in the international markets in the last 10 days. As imports turned costlier, domestic steel makers have recently raised prices by Rs 2,000-2,500 a tonne for various grades of steel. Another couple of hikes are likely soon, Sharma tells Surya Sarathi Ray in an interview. Excerpts:
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