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Stagnant demand amidst higher supplies forced almost all domestic steel producers to prune prices for the first time in the current fiscal ranging from Rs 500-750 a tonne providing some relief to end-use sectors. "We have lowered the price by Rs 500-750 a tonne for the current month. Following this, the price of the cost of Hot Rolled Coil cost around Rs 36,000 per tonne," an official of a private steel maker said.
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