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No steel price curb after three months
Wed 4 Jun 2008
NEW DELHI, June 3: Steel makers will honour their commitment to the Prime Minister, Dr Manmohan Singh to hold prices for three months, but rates will go up thereafter, vice-chairman and managing director of JSW Steel, MR Sajjan Jindal said, after taking over as Assocham president.“Prices have to go up. We have to go into the global price regime... what can you do if raw material prices have gone up,” Mr Jindal said.
Mr Jindal today took charge of Assocham president replacing Mr Venugopal Dhoot, head of the Videocon Group.Large steel producers had reduced prices up to Rs 4,000 per ton on request of the Prime Minister on 7 May. They had also agreed to hold the price line for the next three months. The three-month price moratorium expires in August.
