Essar Steel reduces prices by Rs 560 per ton

Essar Steel reduces prices by Rs 560 per ton

According to recent news in the market, Indian steel producer Essar Steel has reduced sales prices of its products for direct customers by Rupees 560 ($12) per ton, following the reduction of prices by Tata Iron and Steel Corp (TISCO) and by Steel Authority of India Ltd (SAIL). As recently reported by SteelOribis, TISCO decreased its prices by Rupees 2'000 ($43) per ton. Moreover, SAIL reduced its prices by Rupees 1'000 (approx. $22) per ton. Essar Steel announced that prices have been reduced after taking the cost structure of various steel producers into account as the company does not have its own mines.