TISCO intends to leave Indian Steel Alliance

TISCO intends to leave Indian Steel Alliance

According to recent news in the market Indian steel producer Tata Iron and Steel Corp (TISCO) is planning to leave Indian Steel Alliance (ISA), which represents five hot rolled coil producers in India. It is reported that TISCO has already sent a letter to ISA, revealing its intention to leave the organization. Although the reason for TISCO's action is not clear, it is stated that the fact that TISCO decreased its prices by Rupees 2'000 ($43.6) per ton in August caused certain problems. The other members of ISA are Steel Authority of India Ltd (SAIL), Essar Steel, Jindal Iron and Steel Corp (JISCO) and Ispat Industries. Besides, it is stated that ISA invited Rashtriya Ispat Nigam Ltd (RINL) to join the organization.