SAIL mulls long term contracts with engineering exporters.

The Steel Authority of India Limited is mulling contracts with engineering export companies to mitigate the problem of volatility in input prices.

Mr SK Roongta chairman of SAIL told reporters “We are willing to enter into some kind of term contract with engineering exporters, may be at least for three months.”

He said two things are worrying the engineering exporters one is the volatility of input cost and the other is the volatility in foreign exchange.

He added that “If some exporter wants I can keep a fixed price for three months.”

The soaring prices of steel and related products have been a concern for the small scale engineering industries.

SAIL supplies ISP grade pig iron to most of the engineering exporters.

Source : SINDH TODAY