No immediate hike in prices: Tata Steel

August 5th, 2011 - 11:55 pm ICT by IANS  

Kolkata, Aug 5 (IANS) Tata Steel Friday ruled out any immediate hike in steel prices though it saw a 9 percent demand growth of the alloy in the coming fiscal.

“The GDP growth will be seven percent and the demand will grow by around 9 percent,” Tata Steel managing director H.M. Nerurkar told media persons here.

He said the steel prices would not go up in the immediate future though there may be some northward or southward movement of Rs.1,000 per tonne for some time.

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