TISCO's new prices are effective till March 2005

TISCO’s new prices are effective till March 2005

SteelOrbis announced yesterday that Indian steel producers such as Tata Iron and Steel Corp (TISCO), Steel Authority of India Ltd (SAIL), Essar Steel reduced their prices by Rupees 2'000 ($43), by Rupees 1'000 ($22) and by Rupees 560 ($12) per ton respectively. Following the price reduction of these producers, another Indian steel producer Jindal Vijayanagar Steel Ltd (JVSL) also reduced its prices by Rupees 600 per ton ($13). The biggest reduction is seen in the prices of TISCO. The officials of the company have recently announced that the new prices for both direct customers and retail customers will be in effect till March 2005. It means that the prices will remain in effect for seven months. Currently, 65-70% of TISCO's sales are made into domestic market. With these lower prices, it is expected that TISCO's share in domestic market will increase. Analysts claim that as TISCO is a fully integrated producer, even if the costs rise, it may keep these lower price levels.