SAIL reduces steel prices by 4-8%
India's state-owned steelmaker Steel Authority of India (SAIL) today lowered its prices by 4 – 8 percent, marking the third month in a row that the company reduced its prices. Like its rivals, SAIL cut prices in June and July following a 35 percent drop in Asian steel prices during the first half of the year due to the increased production in China. A company spokesperson claimed that they were excepting prices to rebound by mid-September.