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India SAIL cuts some steel prices, lifts others

Wed Jul 8, 2009 5:30am EDT

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NEW DELHI, July 8 (Reuters) - Steel Authority of India Ltd (SAIL.BO), India's largest domestic steel maker, has cut prices on long products by around 5 percent but raised prices on flat products, Chairman S. K. Roongta said on Wednesday.

The state-run firm cut prices for long products, mainly used in construction, by 1,500 to 2,000 rupees ($31-$41) per tonne from July 1, Roongta told reporters at a conference.

He said prices for flat products, used in automobile and consumer durables industries, had been raised by 500 to 700 rupees a tonne.

He did not say why the changes had been made. ($1=48.8 rupees) (Reporting by Mayank Bharadwaj; Editing by John Mair)



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