Steel

New Delhi, May 14 (ANI): Secondary steel makers, Bhushan Steel and National Steel , have announced up to Rs 4,000 per tonne cut on all flat products toeing the line of primary producers even as the government is examining the merit of the steelmakers' request for lower export duty on the metal.

"The secondary steel producers have assured that they will reduce prices of their flat products by Rs 4,000 per tonne and maintain the new price line for the next three months," Steel Ministry Secretary, R S Pandey said after a meeting with the steelmakers.

The world’s largest steel group ArcelorMittal has said that it has finalised the 810 million dollars sale of a plant in the United States to Russian Steelmaker Severstal.

ArcelorMittal, the world’s biggest steel producer, is keen to have a 25 percent stake in China’s second largest steel firm, Angang Steel, in an effort to extend its presence in that country.