Indian stainless steel makers like Jindal Stainless, Mukand Steel and Shah Alloys are looking at reducing prices by up to 5-7 per cent in the coming months due to falling nickel prices.

N C Mathur, Jindal Stainless director, was quoted as saying:

Since nickel prices have fallen sharply, there is a fair chance of revision in stainless steel prices. However, we haven’t decided on the prices yet as some amount of uncertainty still exits in the market.

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