Sajjan Jindal-owned JSW Steel has informed that the company has decided to cut prices on flat steel items used in consumer goods and construction. The company will reduce HR coil price by Rs 500 per tonne with immediate effect.

Further, the company will also lower prices of galvanized sheets by almost Rs 750 per tonne, reacting to the government’s move in cutting down import duty on zinc, coke and ferro alloys.

Last month, the Government had reduced customs duty on metallurgical coke, ferro alloys and zinc from 5 per cent to nil.

Earlier this month, Ispat Industries, had informed its customers about its decision to reduce prices on HRC by Rs 400 per tonne and on galvanised products by Rs 500 per tonne.