Tata Steel on Monday hinted at increasing prices of its products. “What has gone down has to go up,” Tata Steel managing director Mr H M Nerurkar said at a conference at the CII-Suresh Neotia Centre of Excellence for Leadership on Monday when as ked about his view on steel prices after the PSU steel maker SAIL hinted at price revision from January.

Mr Nerurkar, however, declined to divulge more.

Several steel makers in the country are expected to revise prices
upwards from early next year to cash in on the uptick in demand.
Earlier SAIL, private players Bhushan Steel, Essar, JSW Steel had said
they were likely to hike prices of their products by January 2010 as
the demand was picking up.

Steel prices had gone down globally by $100—$150 a tonne to $400 per
tonne during the past few months on account of influx of cheap imports
from China. But in the past month prices have gone up worldwide by $50
on good demand.

Speaking about Corus, Mr Nerurkar said Tata Steel would leverage the
capabilities of Corus in construction space back in India. He said the
European steel market was shrinking and it needed to make profits from
lower production.

He also expects more orders from European Union in the construction
space after it got two orders from Europe recently including one from
France.

Speaking about challenges for leadership, he mentioned that one among
the challenges for Tata Steel is managing the talent as some 25-30 per
cent of the managers will retire from the company in the next 2-3
years.

Source: PTI

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