The secondary steelmaker companies operating in India like the Bhushan Steel and National Steel, have made an announcement on Wednesday and said that they have reduced the price of their products, by up to Rs 4,000 per tonne. The companies have informed that the price cut is applicable on all the flat products, toeing the line of primary producers and the decision has came in spite of the government examining the merit of the steelmakers request to lower export duty on the metal.
According to the Steel Ministry Secretary, Mr. R S Pandey, "The secondary steel producers have assured that they will reduce prices of their flat products by Rs 4,000 per tonne and maintain the new price line for the next three months". He said that the Indian government is examining the request by the steel industry for lowering export duty, at the moment and the reduction of prices by steelmakers is not permanent. He said that this is a conditional decision, as the government did not ever assured the secondary steelmaker companies about lowering export duty.
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| Posted : 5/15/2008 |
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