Tata Steel cuts steel prices by up to Rs 1,500 a tonne
New Delhi: Tata Steel Tuesday said it has reduced prices of some of its products primarily consumed by the construction sector by up to Rs 1,500 per tonne in view of
the prevailing market scenario.
"We have reduced prices of long steel products by Rs 1,000-1,500 a tonne in line with the current market trend," Tata Steel Spokesperson told PTI over phone.
The price revision has been implemented with an immediate effect, he added.
Earlier this week, Tata Steel Vice-President (Safety and Long products) Hridayeshwar Jha had said that there was scope for a "correction in prices of the long steel products
depending on market conditions and the monsoon season."
Leading domestic steel producers including SAIL, JSW Steel have already announced a reduction in prices of the long steel products by up to Rs 2,000 per tonne effective August 1.
Demand for the long steel products have come down amid the monsoon season and increased supply in the domestic market as most of the secondary steel producers and TMT bar manufacturers restored the production cuts.
More from India
More from World
More from Sports
More from Entertaiment
- 6 leaders were in contact with Dawood Ibrahim till 26/11: Report
- Rameswaram waits to give final salute to Dr Abdul Kalam
- DNA analysis of Yakub Memon's final moments in Nagpur Jail
- SC order on Yakub Memon huge disappointment, setback: Owaisi
- Last rites of Gurdaspur attack martyr Baljit Singh in Kapurthala
- APJ Abdul Kalam's funeral to be held in Rameswaram; PM Modi to attend
- Yakub Memon hanged in Nagpur jail: As it happened
- Has President Pranab Mukherjee rejected Yakub Memon's mercy plea?
- SC refuses stay on Yakub Memon's hanging: As it happened
- 2 NDA, 4 UPA leaders were in contact with Dawood Ibrahim before 26/11: Report