Steel producers roll back hike in prices of TMT

New Delhi, Feb 14 : Major steel producers today agreed to roll back hike in prices of TMT bars and rounds by Rs 1,000 per tonne and hot-rolled coils by Rs 500 per tonne with immediate effect.

Earlier this month, the manufacturers had increased the steel prices by Rs 1,500-2,500.

The decision to roll back prices came after Union Steel Minister Ram Vilas Paswan expressed his concerns over the hike in prices of steel commodities at a meeting with the CEOs of major steel producers here today.

The meeting was attended by SAIL, RINL, Tata Steel, Essar Steel, JSW Steel, Jindal Steel and Power, and Ispat Industries Limited.

ANI