JSW Steel has decided to further cut prices of its various steel products. It is the second time in the recent months when the company slashed the prices of its products. The prices are slashed due to decrease in demand in the international market. The global financial crisis also contributed in slashing of the price.

JSW Steel President (Marketing), Jayant Acharya said that the amount of price cut is not decided yet and company may increase the steel products price in the coming months. He said that the company is offering steel prices at lower prices than the prices in the international market. He said that it is the result of global financial crisis which causes decline in demand. Earlier, the government was also forcing the steel companies to cut the steel prices to tame the inflation rate.

The prices of iron ore and coking coal also witnessed decline in prices. Thus the companies can sell steel products at cheaper rate without loss.

The Vice-Chairman and Managing Director of JSW, Sajjan Jindal also said last week that the prices of steel products are coming down due to global slowdown. The sate-owned steel producer, SAIL is also expected to slash prices of its flat steel products.