Indian steelmaker Steel Authority of India Limited (SAIL) has announced that, in line with its policy of holding the price line in steel, for July 2008 it will maintain the same price levels for steel for the domestic market.
Despite media speculation regarding an increase in steel market prices during June 2008, SAIL had maintained its prices for the domestic market during this month at the same levels as during May.
Furthermore, in line with its aim to make more steel available to the domestic market, in June SAIL increased its supply to this market by approximately 32 percent year on year with sales reaching 1.08 million mt. Moreover, in June SAIL upped its sales of TMT bars and HR coil by 74 percent and 20 percent respectively, compared with the same month last year.
In this context, during April-June 2008 SAIL made almost nine percent more steel available to the domestic market compared to the same period last year.