Steel Authority of India Limited (SAIL) has received reports, including reports in the print media, regarding increase in the market prices of steel during the month of June '08, particularly during the last week. In this connection, SAIL wishes to reiterate that in line with its commitment of holding the price line, SAIL had maintained its prices for the domestic market during the month of June '08 at the same level as that of May '08. SAIL is maintaining the same price level for the domestic market in the month of July '08, as well.
SAIL would urge the user industries, other consumers, as well as trading channels to ensure that this price benefit gets passed on to the ultimate consumers.
It may be added that SAIL has been continuously striving to make more steel available in the domestic market. In the month of June '08, it has increased supply in the domestic market by approximately 32%, with sales touching 1.08 million tonnes, as compared to the same month last year. The increase in sales during June '08 as compared to June '07 in important categories like TMT bars and HR coil is to the tune of 74% and 20%, respectively.
Further, during the quarter AprilÔÇôJune '08, SAIL has made available almost 9% more steel in the domestic market as compared to the same period last year. The increase in April-June '08 vis-├á-vis April-June '07 in important categories like TMT bars, HR coil and galvanised plain/corrugated sheet has been of the order of 55%, 16% and 30%, respectively.