Companies initiating steps to contain steel prices

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New Delhi, Jul 26 (UNI) Small and medium pipe manufacturers have informed the Steel Ministry that they have reduced the price of steel tubes and pipes up to 16 mm diameter by 10 per cent, official sources said.

During last fortnight steel prices of pig iron, ingots, rounds, TMT, angles, plates, GP sheets and sponge iron have come down in the range of 3-6 per cent. Retail prices of HR coil, CR coil and wire rods have shown a slight downward trend, mainly in view of strict vigilance exercised over the dealers.

Major steel companies have initiated action for improvement of steel availability in the domestic market. Recently SAIL has issued instructions fixing a maximum retail price (MRP) for its dealers, which gives them a margin of Rs 1000-1200 per tonne of material.

SAIL has also planned to open retail outlets. Currently, the retail sale of flat products is restricted to bonafide consumers only.

Essar Steel limited has established hyper marts in almost all the states for sale of flat products of common categories of HR and CR coils. The retail prices at such hypermart are as per the price, published by the company on their official website. The material is sold to bonafide consumers on production of Excise Registration Certificate.

Tata Steel has a wide dealer network for its TMT and GP/GC products. The flat products of Tata Steel are sold through the marketing department of the company.

JSW Steel does not have any retail outlet, but it has arrangement with franchise dealers who arrange to stock the materials and provide the logistic arrangements. The actual sale and billing is however, done by the company at the dealers' premises, at company rates.

UNI BKS AE KP1734

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