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Our Bureau

Coimbatore , March 29

REITERATING their demand for a rollback in the price of iron and steel, steel furniture manufacturers, who had stopped production since Thursday, have decided to shut shop on Tuesday.

The steep rise in the price of iron and steel has, according to the Indian Chamber of Commerce and Industry (ICCIC), Coimbatore, crippled the engineering, machine tool and steel furniture industry. The halt in making steel furniture has aggravated the situation, with thousands of workers on the brink of losing their jobs.

Industry sources said the soaring price of essential raw materials, including pig iron, iron sheets, non-ferrous metal, etc., had thrown manufacturing activities out of gear. "We have never experienced such an unprecedented hike in the price of raw materials," the source lamented.

The ICCIC, while expressing its support to the steel furniture-manufacturing units, has stated that it would suggest to the Union Government to take immediate steps to roll back the price hike.

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