Indian steel producers may hold price levels after May

Indian steel producers may hold price levels after May

Indian Steel Alliance (ISA) which is an association covering leading Indian steel producers such as SAIL, Tata Steel, Ispat Industries stated that steel producers of India may not bring prices up after the end of three month moratorium by the end of May. However, it should be noted that since the beginning of price moratorium decision of the steel industry, not increasing steel prices until June, input costs rose by almost 10%. Besides, affects of the economic recession two years ago are still tried to be overcome. It is reported that primarily, producers will be pondering the situation before deciding on a pricing strategy. On the other hand, ISA demanded the government to keep the 15% import duty in place due to concerns that low priced imports may flood the domestic market as a result of softening seen in the international market.