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Primary producers to hold prices of steel till July; to meet primary, secondary steel producers & tube makers to discuss price rise: Steel Secretary

Steel Secretary RS Pandey said that primary producers will hold prices of steel till July. Since February, price of steel in India is lower than international markets. Holding Rs 4000/tonne price rise by steel producers has brought a difference of Rs 10,000 /tonne between international and domestic market.

Steel Secretary further said that price of steel at retail level saw a rise of 10-15% in June. Steel Secretary will be meeting primary, secondary steel producers and tube makers on 3rd July to discuss about the price rise.

Steel Secretary said that in the month of June, there has been a rising trend, although the primary producers have maintained that they have not increased the prices but that is a matter of concern and the government is going to ask the producers to take charge of this situation and caution their processors and dealers so that if they maintain their price level at their level, there is no reason why the prices should increase at retail level. So the government will discuss a range of issues on the July 3.

He further said that before the month of February, the domestic prices in India used to be higher than the international prices but now the situation is that the international prices are ever increasing and the domestic prices have gone down. So, there is a difference of over $ 250, which is over Rs 10,000 a ton between the domestic prices in India and the international prices.