TISCO not to hike its prices

TISCO not to hike its prices

Indian steel producer Tata Iron and Steel Corp (TISCO) has recently announced that it will not increase its prices despite the recent price increases effected by the other Indian steel producers Steel Authority of India Ltd (SAIL) and Essar Steel. TISCO officials stated that they will keep the current price levels till the end of March 2005. However, the company has hiked the price of galvanized corrugated sheets by Rupees 2'000 ($45) per ton and the price of cold rolled coils by Rupees 600 ($13) per ton. No change will be made in the price of hot rolled coils till the end of March 2005. As previously reported by SteelOrbis, the company reduced its hot rolled coil price in September 2004 and has kept the price level since then. Other Indian steel producers, which cut their prices in September, have increased their prices twice since then.