Indian steel producer VSP reduces prices

Indian steel producer VSP reduces prices

Indian steel producer Visakhapatnam Steel Plant (VSP) of Rastriya Ispat Nigam Ltd (RINL), following the price reduction effected by other Indian steel producers, such as Tata Iron and Steel Corp (TISCO), Essar Steel and Steel Authority of India Ltd (SAIL) has recently announced that it reduced its prices by Rupees 1'000 ($21.5) per ton. RINL previously stopped exports of its products in order to provide steel availability in domestic steel market. With the recent reduction in the prices, Indian steel users will supply steel at reasonable prices.