PTI reported SAIL has cut prices of its long products used primarily in construction by INR 1,500 per tonne to INR 2,000 per tonne and may further lower the rates if the situation so warrants.
Mr SK Roongta chairman of SAIL on the sidelines of the ASSOCHAM Steel summit said "We have brought down prices by INR 1,500 per tonne to INR 2,000 per tonne on July 1st on our long products. Monsoon is setting in, so construction activities come down. If the market situation demands, we will bring the rates down further."
However, the steel maker said it will continue with the withdrawal of the INR 500 per tonne to INR 750 per tonne rebate announced on the flat steel products mainly used by the automobile and the consumer durable sectors last month.
Steel giant TATA Steel, which raised prices of some of its products last month by INR 500 to INR 750, said there is no scope for increasing prices of the commodity in the near term and the domestic prices will continue to move in tandem with the global trend.
Mr B Muthuraman MD of TATA Steel said "Indian steel prices will be in tune with the global trend. If the global trend goes down, it will go down and if the global trend is up, the prices will go up. In the short term there is no scope for us to increase prices."
(Sourced from http://www.steelguru.com/news/index/2009/07/09/MTAxNDMw/SAIL_cuts_prices_by_up_to_INR_2000_per_tonne.html)
More Related News:--
Bhuwalka Steel secures order worth INR 40 croreBhuwalka Steel Industries Limited has announced that the company has received order to the tune of INR 40 crore from Paschim Gujarat Vij Company Limited/Madhya Gujarat Vij Company Limited, /Dakshin Gujarat Vij Company Limited, / Uttar Gujarat Vij Company Limited for supply of Mild Steel long
Toshiba JSW plans turbine plant in ChennaiProjects today reported that Toshiba JSW Turbine and Generator, a 25:75 JV between JSW Group and Japan based Toshiba Corporation, is setting up a facility in Chennai to manufacture steam turbines and generators for thermal power plants.
Toshiba JSW has signed an MoU with the Tamil Nadu
Pig iron price increase in Agra on July 8Pig Iron
Location Change
Wednesday, July 8, 2009
SAIL cuts prices by up to INR 2000 per tonne
0 comments:
Post a Comment