Tata Steel slashes prices by Rupees 2'000

Tata Steel slashes prices by Rupees 2'000

Tata Steel announced as of midnight Sunday August 23, 2004, the company has cut prices by Rupees 2'000 ($43) per ton effective for all of its major products, in order to control the rising prices of steel and their end-products. Ranan Tata, CEO of Tata Steel, was quoted as stating that he hopes other steel producers will display a sense of responsibility and reduce their prices as well, so as to control the strong inflation trend.