Steel Authority cuts price again
November 16th, 2009 - 7:04 pm ICT by IANS ( Leave a comment )New Delhi, Nov 16 (IANS) The state-owned Steel Authority of India Ltd (SAIL) Monday said it has reduced the price of its product used by the white goods and auto industry by Rs.500 per tonne.
“We have further cut flat steel price by Rs.500 a tonne because of softening global trend,” SAIL chairman S.K. Roongta told reporters here, but asserted he didn’t see the price falling further.
SAIL recently brought down prices of its flat steel products by Rs.750 to Rs.1,500 a tonne.
After the latest reduction, prices will now be in the range of Rs.1,250 and Rs.1,500 per tonne.
Taking a cue from SAIL, private sector steel maker Tata Steel also reduced prices of its flat steel products.
However, there has been no change in the prices of long steel products.
- Global demand subdued, SAIL to freeze prices - Sep 25, 2009
- Steel Authority sees no further steel price rise - Feb 04, 2010
- SAIL mulls contracts with engineering exporters - May 17, 2010
- SAIL investing Rs.20,000 crore for modernising Bengal units - Sep 10, 2011
- Steel Authority profit down 17 percent - Oct 30, 2009
- SAIL commissions pipe coating plant at Rourkela - Feb 13, 2010
- SAIL eyeing 14 percent growth this fiscal - May 17, 2010
- Government to conduct survey to assess rural steel demand - Oct 23, 2009
- Tata Steel to cut CO2 emissions by 2012 - Dec 21, 2009
- Steel price hike ruled out, cut might follow (Lead) - Aug 22, 2008
- No immediate hike in prices: Tata Steel - Aug 05, 2011
- Car-makers to increase prices from January - Jan 01, 2011
- Vedanta Aluminium to raise capacity to 2.5 million tonnes - Dec 06, 2011
- Steel prices will remain stable, says Tata Steel - Jan 22, 2010
- Steel Authority sees 10 percent sales growth this year - Nov 10, 2009
Tags: auto industry, cue, flat steel, global trend, long steel, New Delhi, private sector, rs 1, rs 500, steel authority of india ltd, steel maker, steel products, tata steel, tonne, white goods
