JSW Steel has hiked the price of its HR coils by Rs 1,000 per metric tonne due to the increase in iron ore prices and the weak dollar to rupee conversion.

Also, since the price of Zinc has gone up by nearly 15% in the month of May,it is likely to impact the price of galvanized steel. Though, the price rise for galvanized steel will be much higher in thinner gauges than in the others.

The company said that the price hike in the HR segment is influenced by the trend in the international market. The last few weeks have seen a price rise in the US, Europe and China steel markets.

JSW Steel is a fully integrated steel plant having its units across Karnataka and Maharashtra producing steel products ranging from pellets to colour coated steel.