Steel prices are reduced in India

Steel prices are reduced in India

According to recent news in the market, The Union Government and Indian Steel Alliance (ISA) have reached an agreement regarding a reduction in steel prices. According to the decision, the price of hot rolled products will be decreased by Rupees 4'000 ($88) per ton to the level of Rupees 23'000 ($507) per ton. Rupees 2'000 ($44) of this reduction, being in the form of a cut in the prices and the other cut of Rupees 2'000, being in the form a recent cut of 8% in the excise duty will reflect on the prices.