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Codissia wants Ministry help to contain steel price increase
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Unexpected
The increase has come at a time when there is no shortage in the availability of raw materials.
Coimbatore
,
April 6
The Coimbatore District Small Industries Association (Codissia) has sought the intervention of the Union Ministry of Steel to check the increase in the price of iron and steel materials.
What has surprised the association is that the increase has come at a time when there is no shortage in the availability of raw materials.
In a statement, Mr J. Balu, President, Codissia, said according to published reports, the price of basic iron and steel materials has been hiked by Rs 2,000 a tonne. The basic price of pig iron has gone up to Rs 15,350 a tonne from Rs 13,150 a tonne and the price of steel sheets, rods etc has also moved up by Rs 2,000 per tonne.
He said aluminium price has also witnessed an abnormal price increase - Rs 182 a kg (Rs 81 a kg). He said such a substantial increase in the price of raw materials would hit the small and medium enterprises in the Coimbatore region that would not be able to increase the price of products.
He said the problem is not shortage of raw materials but increase in their prices. He urged the manufacturers to roll back the increase in prices. He requested the Ministry to intervene and check the price rise.
The industry was reeling under frequent power failure and cuts in Coimbatore. He said prior information about any power cut should be given and such cuts, if unavoidable, should be enforced in the evening between 5 p.m. and 6 p.m.
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