Steel prices slashed in range of Rs 700-1500

3483 Investors following Essar Steel. Share this News with them.

0

Like this story, share it with millions of investors on M3

Steel prices slashed in range of Rs 700-1500

Several steel makers have announced price cuts today. The cuts have been in the range of Rs 700-1500 a tonne. What has prompted the cuts, and how does this impact the companies? Reports CNBC-TV18.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about Essar Steel See previous management interviews See what other Experts & Brokerages are saying about Essar Steel Essar Steel BSE | NSE 01/01/70 Are Mutual Funds betting on Essar Steel? Other Stocks in this news JSW Steel | Steel Authority of India | Tata Steel |

Steel prices are consolidating at lower levels globally and global HRC prices are also down by 11%.

Tata Steel has cut hot-rolled coil spot prices by Rs 750-1,000/tonne. The price cut is effective from today. The company is lowering margin volatility via enhanced product mix.

SAIL has also slashed the product prices by Rs 700-1,500/tonne and is also looking to enhance product mix.

JSW Steel has also decreased hot-rolled coil prices by Rs 1,000/tonne and will see a fall in realisations in Q2. Though, the volume growth is expected to remain strong.

Essar Steel  has cut hot-rolled coil prices by Rs 850/tonne. Ispat also hacked hot-rolled coil spot prices by Rs 750-1,000/tonne and this will be effective from today.