The Indian government has urged the domestic steel industry not to hike prices even after the expiry of agreed three-month freeze.
The country’s steel minister Ram Vilas Paswan has asked India’s second-largest steelmaker, Steel Authority of India Ltd. (SAIL), not to hike prices in view of the exceptional situation, and said he would like the industry to cooperate as well.
The minister also said that the government wants the steel industry to prosper and is giving facilities directly and indirectly to favourably impact the cost.
Global companies have been raising steel prices, which have nearly doubled this year, amid bullish demand for the metal.
According to media reports, the Indian government is planning a price band for steel products in order to check rising inflation due to high energy and commodity prices.
Tags: crca steel strip, crca steel strips, hardened tempered steel strip, hardened tempered steel strips, high tensile steel strapping, high tensile steel strappings, precision steel strips, spring steel strip, spring steel strips, steel strip, steel strips, strip, strip steel, strips