PRICE HIKE BY SAIL AND RINL

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During April-July 2002 there has been upward revision of rate of rebate adjustment as well as of base price of the steel items. The Steel Authority of India Ltd. (SAIL) revised the prices of HR Coils in the months of April, May and June. The extent of rise varied from Rs.900 to Rs.1300 per metric tonne. In July the base price was increased by Rs.1600 per metric tonne. In case of non-flat products the price of wire rods was raised twice during this period. The price of high carbon rods was revised upwards by Rs.750 per metric tonne, while for mile steel quality the increase per metric tonne was Rs.1100.

The Rastriya Ispat Nigam Ltd. (RINL)'s product mix comes under long products. During March/April 2002, the average increase in price of RINL products per metric tonne was Rs.315. In the months of May, June and July the average price hike was Rs.172, Rs.147 and Rs.157 respectively.