Tuesday, July 29, 2008

Steps to contain steel prices

by Ed Roberts

Indian government has announced that steel prices in respect of pig iron, ingots, rounds, TMT, Angles, plates, GP sheets and sponge iron have come down in the range of 3-6 %, during the last two weeks. Moreover, retail prices of HR coil, CR coil and wire rods have also shown a slight downward trend.

Big, small and medium steel producers, including SAIL, Essar, JSW and Ispat have announced the reduced rates via advertisement in various section of print media.

The state owned SAIL has a wide dealer network covering almost all the districts in the country. Recently SAIL has issued instructions fixing a maximum retail price (MRP) for its dealers, which gives them a margin in the tune of Rs 1000 ($25) -1200 ($30) per tonne of material. SAIL has also planned to open retail outlets.

Essar Steel limited has established hyper marts in almost all the States for sale of flat products of common categories of HR and CR coils. Tata Steel has a wide dealers network for its TMT and GP/GC products. The flat products of Tata Steel are sold through the marketing department of the company.

JSW Steel does not have any retail outlet, but it has arrangement with franchise dealers who arrange to stock the materials and provide the logistic arrangements.

 

 

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