STEEL MAJORS ROLL BACK DISCOUNTS
Article Abstract:
Steel producers have decided to maintain the prices of their at the 1998 level. All steel producers, except Tata Iron and Steel Company, have withdrawn the discount offered on their products. They have maintained the base price. The Steel Authority of India Ltd has withdrawn discount of Rs1,600 on a tonne of hot-rolled coils (HRC) and Rs1,200 a tonne on cold-rolled coils (CRC) of 0.63 mm and below and Rs800 a tonne of cold-rolled coils above 0.63 mm. Jindal Vijaynagar Steel Plant has stopped discount of Rs1,700-2,000 a tonne on the base price of Rs14,500 per tonne. Lloyds Steel has withdrawn discount of Rs1,500 a tonne on hot- rolled coils and Rs500 a tonne on galvanised steel. (rk/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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AUTO SECTOR RECOVERY SET TO FUEL STEEL OFFTAKE
Article Abstract:
Demand for steel is likely to increase in the domestic market in the first quarter of 1999, with the automobile sector showing signs of revival. The demand for galvanised products and hot rolled products may also pick up. Investigations into dumping may help stabilise the prices. Currently steel prices are so low that production is not sustained in many units. Pig iron prices are below $100 a tonne. Vizag Steel has reduced its output. A study by World Steel Dynamics of US predicts a recovery in steel prices in 2000 AD as dumping laws tighten. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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