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India says steel firms to cut some prices by 10 pct

Thu Jul 3, 2008 2:13pm IST
 
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NEW DELHI, July 3 (Reuters) - Indian steel firms on Thursday pledged to cut prices of steel pipes and tubes by 10 percent, R.S. Pandey, a secretary at the steel ministry, said.

The government had called a meeting with steel firms to persuade them to cut prices and help tame inflation that hit a 13-year high of 11.42 percent in mid-June.

(Reporting by Mayank Bhardwaj, Editing by Mark Williams)

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