The country's largest steel maker SAIL which has cut prices of some of its products by up to INR 1500 a tonne said that it will reduce the rates further by about INR 500 a tonne mainly on falling global demand.
Mr S K Roongta chairman of SAIL at the India Economic Summit told reporters that “A small correction of INR 400 to INR 500 per tonne will happen soon for the flat steel products. Its rates should stabilize at marginally lower levels.”
SAIL generally revises the rates of its products every month. Earlier this month, it had cut prices of its flat steel products by INR 750 to INR 1500 a tonne. It is now expected to review the prices downwards next month.
(Sourced from http://www.steelguru.com/news/index/2009/11/11/MTE5NzI4/SAIL_may_cut_flat_product_prices_further_during_the_month.html)
Wednesday, November 11, 2009
SAIL may cut flat product prices further during the month
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