Financial Daily from THE HINDU group of publications
Tuesday, Mar 16, 2004

Cross Currency

Group Sites

Industry & Economy - Steel

Steel body, auto sector meet discusses volatility

Our Bureau

New Delhi , March 15

THE Society for Indian Automobile Manufacturers (SIAM), the Auto Component Manufacturers' Association (ACMA) and the Indian Steel Alliance (ISA) have agreed on a five-point agenda to address issues relating to the availability and volatility of steel prices, according to a release.

A meeting chaired by Mr Sunil Kant Munjal, Vice-President of the CII was convened to discuss the short, medium and long-term issues relating to hot rolled steel.

Dr J.J. Irani, ISA Chairman, Mr Jagdish Khattar, President, SIAM and Mr K.V. Shetty, President, ACMA, attended the meeting. ISA has assured that it will meet all domestic demand of hot rolled coils.

Further, there will be no export of HR coils at the cost of the local market.

With a view to lend stability to prices, ISA members have committed to enter into quarterly, half-yearly or annual contracts with their customers, provided that both sides honour prices and commitments during the tenure of the contract. For small consumers, members of the Steel Alliance have agreed to meet aggregated demands of such customers for HR coils, subject to minimum quantity depending upon the members.

More Stories on : Steel

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rains in central Kerala

Investors still prefer bank deposits, Govt savings schemes: Study
No fresh taxes in Bengal's vote-on-account
Concern over transportation of ammonia in Kochi
Rural, core sector hold key to growth: Assocham
`Indians investing in US a good trend'
BSF fiat on Indian Customs House Agents at Petrapole — Govt says present practice will continue for time being
Ranbaxy gets tentative USFDA nod for hypertension drug
NIN facility for Vitamin A analysis
BPCL to halve product offtake from Reliance
Kochi Refineries signs production pact with BPCL
REL to call for gas supply bids for UP power project
Kayamkulam plant grid affected — Bund to keep seawater at bay
Steel body, auto sector meet discusses volatility
HR, CR steelmakers' pact for working group
`Entrepreneurship education a must for SMEs'
New tech upgrade scheme for SSIs
Seagram knocks out Royal Challenge from top slot in AP
SC asks Ten Sports to offer feed to DD for second ODI
Disney upbeat on India, plans to launch channel
NITIE slashes fees to Rs 30,000
Association of British Scholars to be inaugurated
TBM Tech package for schools
Technoquiz for engg students
Gem & jewellery may face long-term Chinese threat: ICRA
Is jewellery the next outsourcing boom?
Kedia, Kamineni sign MoU for telemedicine
Get ready to watch: A joint feature film by India, Pakistan
CII (SR) bid to empower women
ONGC cut-off price at Rs 750; mops up Rs 10,534 cr
We're now more confident of tapping capital markets: Shourie
`India must avoid protectionism in accountancy'
In Hyderabad today
Legal opinion on Jeevani patent yet to emerge, says Dr Valiathan

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line