Steel cos to roll back prices(The Hindu Business Line 15th Feb 2008)After raising prices in the first week of February, major domestic steel producers have agreed to a partial roll-back in the prices of thermo mechanically treated (TMT) bars and rounds by Rs 1,000 per tonne and hot-rolled (HR) coils by Rs 500 per tonne with immediate effect.
The roll-back decision came after a meeting between the major producers and the Union Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan, on Thursday. Steel producers had a meeting with Ministry officials on Tuesday, but that meeting remained inconclusive.
Earlier this month, the manufacturers had raised steel prices by Rs 1,500-2,500 per tonne, citing rising input costs, which had attracted a lot of attention from consumers. According to Mr Paswan, the industry had voluntarily agreed to decrease prices of these varieties for the benefit of the common man. More
The roll-back decision came after a meeting between the major producers and the Union Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan, on Thursday. Steel producers had a meeting with Ministry officials on Tuesday, but that meeting remained inconclusive.
Earlier this month, the manufacturers had raised steel prices by Rs 1,500-2,500 per tonne, citing rising input costs, which had attracted a lot of attention from consumers. According to Mr Paswan, the industry had voluntarily agreed to decrease prices of these varieties for the benefit of the common man. More
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