SAIL, the biggest manufacturer for Flat Steel in India is heard to cut prices for September . Moreover, the discount or rebate that are currently being offered in the range of Rs 500-1000/MT might also be waived off.
According to a trader based in Delhi, “HR Coil of 2.5MM at present is trading at Rs. 40,500/MT +VAT. So, if the MRP is decreased by Rs 500-1000/MT i.e. in the same range which the current rebate or discount prevails then buyers can avail a benefit of Rs 300-500/MT on account of reduced bill value and lower Excise duty and other taxes, he added.
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