SAIL to urge industries to pass on price benefit to consumers

New Delhi, July 1 (UNI) Steel Authority of India Ltd (SAIL), the public sector company, today said it will urge the user industries, other consumers and trading channels to pass on the 'maintained price benefit' to the ultimate consumers.

In line with its commitment of holding the price line, SAIL had maintained steel prices for the domestic market during the month of June at the same level as that of May, it said in a release.

Earlier, there were media reports raising speculation that there had been increase in the market prices of steel during the month of June, particularly during the last week.

Refuting the reports, SAIL said it has been continuously striving to make more steel available in the domestic market. During June, it has increased supply in the domestic market by approximately 32 per cent, with sales touching 1.08 MT, as compared to the same month last year.

There has been an increase of 74 per cent in sales of TMT bars and 20 per cent growth in HR coils sales during June 08 as compared to June 07.

Besides, during the quarter April-June08, SAIL has made available about nine per cent more steel in the domestic market as compared to the same period last year.

UNI BKS SG DS1618