Tata Steel not to increase price of steel for three months

Jamshedpur, May 13 (UNI)Endorsing its earlier stand, steel major Tata Steel today reiterated its committment of not increasing price of steel for the next three months.

Speculations were doing its round that the company might increase the price of steel in the wake of export duty, being levied on steel by the Government.

But Tata Steel Managing Director B Muthuraman came out with a statement to stop all speculations saying, ''We had promised to keep steel at the reduced rate for the next three months and we will keep that promise.'' Significantly, both Tata Steel and SAIL had responded to Prime Minister Manmohan Singh's appeal last month during the latter's visit to Jharkhand that they would not increase the price of steel for coming three months.

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