[Ferro-Alloys.com]The Indian Pipe Manufacturers Association has sought government intervention to regulate the prices of steel. The industry body, in a 20 May letter to Steel Minister Mr Dharmendra Pradhan has sought a temporary ban on steel export in an effort to prevent steel players from diverting their produce to the international markets. It said “Pipe manufacturers and MSMEs are struggling for a long time due to increased prices and shortage of steel in the domestic market. We had approached the Steel Ministry, requesting your kind intervention for regulating prices and imposing a temporary ban on steel export.”

The IPMA said “Steel prices have increased more than 60% in the past 10 months and are expected to increase further by INR 4,000 per tonne in coming days. This has made existence for down-stream industries impossible who are totally dependent on integrated steel mills for their raw material requirement. As such, several down-stream industries have closed and many more are on the brink of closure.”

source:SteelGuru Business News

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