Ispat Iscor recently announced that it will realign its domestic flat steel prices following two consecutive months of lower pricing in the flat steel product range.

Price adjustments have been necessitated by surging global steel prices, as well as escalating input prices. International steel prices have reached an all-time record high.

Iscor says that it is constantly monitoring international price fluctuations. In August this year, the company implemented a price reduction of 2 to 4% on certain flat products, and maintained the lower price levels through September.

However, a surge in global prices, driven largely by global demand and continuing high input prices, will result in a domestic price increase of 7.5% for hot rolled coil and 4% for cold rolled coil from October 2004.