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Industry & Economy - Steel
Rising steel prices taking toll on small fastener units

Our Bureau

Visakhapatnam, Sept. 19 The prices of iron and steel products are being revised upwards almost every month by the main producers – SAIL and Rashtriya Ispat Nigam Ltd (RINL) here – causing great distress to the secondary units such as the small and tiny fastener units in the vicinity of Chandigarh, according to Mr A.L. Agarwal, President of Chandigarh Industrial Fasteners’ Association.

He told reporters here on Wednesday that there were 350-400 micro and small fastener units in the vicinity of Chandigarh, dependent mainly on the wire rods and rounds supplied by the steel plant here for producing nuts and bolts.

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