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Steel majors have been gaining sharply in recent times on the back of price hike hopes.

With input raw materials cost going up quite sharply, steel majors are mulling a price hike soon, said marketmen.

According to analysts tracking steel industry, the demand, which is already huge against the domestic production, is likely to go up further following China's recent move to cool down its export of this metal.

The Chinese Government recently slapped export duties in the range of 5-10 per cent on over 80 steel products from June 1.

Besides, reports suggesting that China stainless steel mills plan production cut could push up the price of the metal.

While Tata Steel gained 0.57 per cent week-on-week, SAIL gained 4.17 per cent, Bhushan Steels 7.15 per cent, JSW Steel 5.85 per cent and Essar Steel surged 4.6 per cent.

K.S. Badri Narayanan

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