Tata Steel cuts prices up to Rs 1,500/tonne
New Delhi, Nov 4, PTI:
Tata Steel on Wednesday said it has cut prices of its products by about Rs 1,500 a tonne in tune with falling global rates.
With the reduction, Tata Steel joins leading steel makers SAIL, JSW Steel, Essar, Ispat Industries, all of them on Tuesday cut prices of flat steel products by up to Rs 1,500. “We have cut prices of our flat steel products. It is in the same range as other steel makers have done,” Tata Steel Managing Director H M Nerurkar told reporters here.
The company’s flat steel products were in the range of Rs 30,000 to 40,000 a tonne. A 4 per cent cut implies prices would be down by roughly Rs 1,200 to 1,500 a tonne.
