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Our Bureau

New Delhi, April 25 Steel Authority of India will hold prices at the present levels without levying the raw material surcharge of Rs 5,000 to Rs 6,000 a tonne imposed by other primary steel producers.

This will make SAIL products available at almost 10-15 per cent lower rates compared to that of the competitors.

However, in the present surplus demand situation, the move would create a premium for SAIL products.

A SAIL spokesman said that “we would be holding prices at pre-raw material surcharge levels in national interest”.

The announcement comes after the Prime Minister, Dr Manmohan Singh, urged steel producers not to manipulate the market for short-term gains.

Earlier this month, all major steel producers had imposed Rs 5,000 a tonne raw material surcharge except SAIL.

Several meetings were held between the Government and industry representatives to contain steel prices failed as producers refused to cut prices because of increased costs.

For SAIL itself, various input costs had gone up in the range of 53.6 per cent to 349.9 per cent between 2004-05 and 2008-09.

More Stories on : Announcements | Steel | Steel Authority of India Ltd

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SAIL to hold prices at pre-raw material surcharge levels

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