Steel companies reduce prices by Rs 1,200-2,000 a tonne across products

Companies say, correction may be temporary

Steel companies have corrected prices by Rs 1,200-2,000 a tonne in July across flat and long steel products, but there may be scope for an increase, going forward.

ArcelorMittal Nippon Steel India (AM/NS India) corrected prices by approximately Rs 1,500-2,000 a tonne. Jindal Steel & Power (JSPL) sources said that there was a reduction in all steel product prices by Rs 1,500-2,000 a tonne across hot rolled coil (HRC), rebars and other structural products; JSW Steel sources said that prices were corrected by Rs 1,200-1,800 a tonne.

However, companies believe that this is a temporary correction and once domestic demand