See no production cut post 5% import duty: SAIL.

SK Roongta, CMD of SAIL said that the 5% import duty was welcome, but said that he would have liked it to be at least 10%. He added that the duty change would have only a marginal impact on the domestic prices. He does not intend to opt for production cuts or reorienting product mix. He hopes for normal sales to resume from December onwards.

Roongta informed CNBC-TV18 that prices have come down by at least 40% since July in case of most products. SAIL has reduced prices by 15-20% across products this month, he said.