Tata Steel up price by Rs 2,000, SAIL withdraws discounts

Last Updated: Thursday, December 24, 2009 - 20:53

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
bolster sales.

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
durables industry.


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First Published: Thursday, December 24, 2009 - 20:53

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