Giriraj Daga

Steel makers cut flat product prices to battle cheaper imports

JSW SteelIn a bid to better cope with cheaper imports, Indian steelmakers have marginally slashed prices of their flat product like hot-rolled coil (HRC).

JSW Steel slashed the prices of hot rolled coil by Rs500-750 per tonne and prices of wire rod by Rs500 per tonne from the start of April.

Without divulging details of planned price cuts, a spokesperson for Essar Steel said that the company would lower prices of some of its commodity grade flat steel products in April.

Analysts have attributed the cut in prices to the combination of rupee appreciation and declining steel prices in the international market.

Syndicate content