Industry & Economy
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Steel
CR, HR steel makers squabble over pricing
Our Bureau
Mumbai
,
Oct. 6
A disagreement between the cold rolled (CR) steel manufacturers and hot rolled (HR) steel makers over recent price changes has surfaced within the industry.
The Cold Rolled Steel Manufacturers Association of India (CORSMA) said that some of the HR manufacturers have hiked prices, negating the positive impact of a reduction in prices by leading steel companies.
CORSMA, in a representation to the Finance Minister, has said that three companies — Essar Steel, Ispat Industries and Jindal Vijayanagar Steel Ltd (JVSL)— have hiked prices of HR coils. However, these companies have retorted saying that they have not raised prices of HR.
CORSMA said that the "reduction in HR coils by Tata Steel and Steel Authority of India Ltd was more than neutralised by the hike in prices by other producers defeating the basic objective of the Government to curb inflationary pressure."
Ispat and JVSLhave said that they have not increased prices of HR coil. "In fact, looking at the current international scenario, domestic prices are about Rs 2500-3000 per tonne below international prices," JVSL said in a news release.
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