The price of HR Coils has been reduced by 800/- to 1000/- per mt by main producers.Imports are very much cheaper and the domestic producers were bound to slash prices in order to match the import prices.SAIL, TISCO,ISPAT & ESSAR has reduced their prices and the market situation might compel them to reduce the prices furthur.
This gloomy scenario of the steel sector may stretch over a longer period of time if the Dollar remains weak.
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