Tata Steel cuts steel prices by up to Rs 1,500 a tonne
New Delhi, Aug 11, 2009 (Asia Pulse Data Source via COMTEX) --
Company: Tata Steel Ltd (TATLY)
Tata Steel on Monday said it has reduced prices of some of its products primarily consumed by the construction sector by up to Rs 1,500 per tonne in view of the prevailing market scenario.
"We have reduced prices of long steel products by Rs 1,000-1,500 a tonne in line with the current market trend," Tata Steel Spokesperson told PTI over phone.
The price revision has been implemented with an immediate effect, he added.
Earlier this week, Tata Steel Vice-President (Safety and Long products) Hridayeshwar Jha had said that there was scope for a "correction in prices of the long steel products depending on market conditions and the monsoon season." Leading domestic steel producers including SAIL, JSW Steel have already announced a reduction in prices of the long steel products by up to Rs 2,000 per tonne effective August 1.
Copyright (C) 2009 Asia Pulse Data Source. All rights reserved
News Provided by COMTEX
Company: Tata Steel Ltd (TATLY)
Related terms: market, prices, products, steel
Zibb.com
Zibb.co.uk
Zibb.fr
Zibbsearch.nl