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Visakhapatnam, Nov. 4

The Visakhapatnam steel plant has reduced prices of steel by Rs 5,000 to Rs 8,500 a tonne for different products, according to a press release issued by the plant. The prices have come into effect from November 1, but the official announcement came on Monday. The reduced prices will be valid for the current levels of inventory, adds the release. Poor offtake, due to the economic slowdown, is said to be one of the reasons during the past two months for the growing stocks in the plant.

— Our Bureau

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