Industry fears hike in steel prices

The Government of India has decided enhancement in steel prices after heard this declaration Ludhiana steel industries have quailed. Prior, it was necessary to have ISI mark on the final stage steel used for construction purposes but now steel used for industrial purposes, ingots etc. have also been included under the ISI mark. Pursuance to a media report, with this, no foreign or international organization will be able to export its product to India without ISI mark or certification and even Indian organization without ISI certification will not be able to sell steel until unless they got not approved by ISI certification. In this concern, Federation of Punjab Small Industries Association President, Badish Jindal said that “after the quality control order issued, all billets, ingots, TMT had to be manufactured and sold with ISI mark only”. So, if rolling mills were found to be using billets without ISI mark, they would have to sequestrate the bars in scrap, he added this sentence during the conference.

He said “the impact has already started showing in the market as the price of steel has gone hike by Rs 500. From the last one month, the price of steel is on the enhancement. These days, the steel is priced at Rs 38,000 per metric tonne while last month the price was Rs 35,000 per metric tonne.”

Jindal pointed “The steel prices will go up which will lead to increase in product price and cost of end product too,” he said “the foreign manufacturers and companies and local companies applying for ISI certification will have to wait for at least six months to get the certification approval.

What is ISI Certificate?

ISI word which relates something for Indian consumer i.e. Indian Standards Institute, basically, it is the mark of product testing. ISI mark reassures, everyone that your product is 100% safe. The ISI mark is the most acknowledged certification mark in the Indian subcontinent. The ISI mark is developed by BIS (Bureau of Indian Standards), it is the national body of India. The ISI mark is mandatory for many products including steel, home appliances, kitchen appliances, baby products, building materials and many more.

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