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Our Bureau

New Delhi, May 3 Responding to Government efforts to curb steel prices by cutting customs duty on certain inputs, two steel companies — JSW and Ispat — on Saturday announced reduction in prices in the range of Rs 400-Rs 700 a tonne.

JSW Steel announced reduction in hot-rolled (HR) coil price by Rs 500 a tonne with immediate effect.

“As a responsible corporate, we feel the positive step the Government has taken by reducing duties should result in direct benefit to the customer, who has been hard pressed by the recent inflationary trends,” said the company’s Director (Finance), Mr Seshagiri Rao. Last month, the Government had reduced customs duty on metallurgical coke, ferro alloys and zinc from 5 per cent to nil.

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JSW, Ispat cut steel prices

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