During the last fortnight 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 %. Retail prices of HR coil, CR coil and wire rods have shown a slight downward trend, mainly in view of strict vigilance exercised over the dealers.
Major steel producers, namely SAIL, Essar, JSW and Ispat have published advertisements in the newspapers giving the range of prices, their channel of distribution and other relevant details.
Small and medium pipe manufacturers have informed that they have reduced the price of steel tubes & pipes up to 16 mm diameter by 10%.
Major steel companies have initiated action, as follows, for improvement of steel availability in the domestic market:
(i) 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 of Rs 1000-1200 per tonne of material. SAIL has also planned to open retail outlets. Currently, the retail sale of flat products is restricted to bonafide consumers only.
(ii) 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. The retail prices at such hypermart are as per the price, published by the company in their official website. The material is sold to bonafide consumers on production of Excise Registration Certificate.
(iii) 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.
(iv) 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. The actual sale and billing is however, done by the company at the dealers’ premises, at company rates.
Source: Ministry of Steel, Government of India