Govt says steel cos can hike prices after Jul if input costs rise
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K.Karthik Raja
Jun 26, 2008, 5:03:51 AM6/26/08
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Govt says steel cos can hike prices after Jul if input costs rise
Thursday, Jun 26
.
NEW DELHI - Steel Minister Ram Vilas Paswan today said the
government will not intervene if steel companies increase product
prices on rise in input costs after July.
Domestic steel companies had agreed to hold price line for three
months ending July.
"If we keep intervening in price matters, then what is the
difference
between a controlled and a de-controlled sector," Paswan said.
Steel companies are likely to raise prices to pass on the spurt in
raw
material costs, particularly in iron ore and coking coal.
Currently, domestic steel prices are quoting around $300 per tn
lower than international prices as a result of "self discipline by
companies", U.P. Singh, joint secretary, steel ministry, told
reporters.
Thursday, Jun 26
.
NEW DELHI - Steel Minister Ram Vilas Paswan today said the
government will not intervene if steel companies increase product
prices on rise in input costs after July.
Domestic steel companies had agreed to hold price line for three
months ending July.
"If we keep intervening in price matters, then what is the
difference
between a controlled and a de-controlled sector," Paswan said.
Steel companies are likely to raise prices to pass on the spurt in
raw
material costs, particularly in iron ore and coking coal.
Currently, domestic steel prices are quoting around $300 per tn
lower than international prices as a result of "self discipline by
companies", U.P. Singh, joint secretary, steel ministry, told
reporters.
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