SAIL, JSW cut flat steel prices

Steel Authority of India Ltd (SAIL) and private sector steelmaker, JSW Steel, have dropped prices of hot rolled (HR) steel products by about two per cent.

“In view of the slight drop in the international prices and strengthening of rupee vis-à-vis dollar, a small correction of one to two per cent have been made in the prices of hot rolled products for a short period to match the international prices,” SAIL Chairman C S Verma said.

JSW Steel has reduced prices of HR, the benchmark for flat steel, used in the automobile and white goods sectors, by two per cent.

“We have rolled over prices of long products, cold rolled and coated products, as of now,” JSW Steel director (sales & marketing), Jayant Acharya, said.

“As far as long products are concerned, the prices are being rolled over and we expect that prices may marginally improve from the second week onwards,” Verma said.