CODISSIA appeals for iron and steel prices reduction

The Coimbatore District Small Industries Association (CODISSIA), India, has appealed to the iron and steel producers to withdraw the price hike of Rupees 2,000 per ton, which came into effect from April 1. Mr. Balu, the President of the association, said in release that the price rise would affect small manufacturers as they would not be able to increase the selling price of the end products. He has requested the iron and steel material producers to withdraw the price hike for their products and allow the existing rate to continue. Mr. Balu has also appealed to the Central Government to intervene on the matter. With the effect of 1 April, Indian steel makers raised the basic price of pig iron from Rupees 13,150 to Rupees 15,350 per ton, and that of steel sheet and rods rose by over Rupees 2,000 per ton.