Tata Steel up price by Rs 2,000, SAIL withdraws discounts
New Delhi: Dampening the Christmas mood,
leading steel makers Tata Steel has jacked up prices by Rs
2000 a tonne, while SAIL has discounted its discounts, with
immediate effect, on the back of rising demand.
Others are also mulling similar action, with the
country`s largest private steel maker by domestic capacity JSW
Steel considering a similar action tomorrow.
Tata Steel hiked prices of its long steel products by
about Rs 2,000 a tonne. "The hike is from immediate effect.
We have not revised our flat steel prices," a spokesperson of
the company said.
"We have removed the Rs 750-1,500 per tonne rebate we
were offering on both flat and long steel products with
immediate effect," SAIL spokesperson said today. The country`s
largest steel maker started offering discounts to distributors
in the wake of demand slump due to the economic downturn to
Significantly, SAIL is also mulling a price hike next
JSW Steel director for sales & marketing Jayant Acharya
said the firm is considering to increase price of TMT bars,
used by construction firms, by five to six per cent from
tomorrow. The hike is likely to be of up to Rs 2,000 a tonne.
Long steel products are mainly used by infrastructure and
construction sectors while flat ones are used by consumer
More from India
More from World
More from Sports
More from Entertaiment
- PM Modi slams Pakistan govt during his speech in Kozhikode
- Panel discussion over PM Modi's willingness to engage in direct dialogue with Pak
- Panel discussion over PM Modi's willingness to engage in direct dialogue with Pak - Part II
- PM Modi calls meeting to review Indus Waters Treaty today
- Watch: Sushma Swaraj addresses the UN General Assembly
- SHOCKING VIDEO: This man was trying to take selfie with python - You won't believe what happened next!
- Donald Trump praises Hindu community's contributions to US
- WATCH: Ravichandran Ashwin's magic ball that bamboozled Kane Williamson on Day 3
- Uri effect? India, Afghanistan bypass Pak to set up exclusive air corridor
- Jio impact: Vodafone offers 10 GB 4G mobile services at 1 GB price