New Delhi, Nov. 3 (PTI): Top steel makers SAIL, JSW Steel, Essar and Ispat Industries today cut prices of their products by up to Rs 1,500 a tonne, mainly on account of falling global demand.

“We have cut prices of our flat steel products (used primarily by automobile and the white goods industry) in the range of Rs 500-1,500 a tonne,” a SAIL spokesperson said.

JSW Steel cut the rates of its products in the same segment by up to Rs 1,400 per tonne, while Essar Steel and Ispat Industries reduced prices by up to Rs 1,000 a tonne.

The steel makers did not alter the prices of long steel products used by construction and infrastructure companies.

“Globally prices have got corrected by about $50-60 a tonne in the last two months. Also, the rupee has appreciated compared with its September level. Both the factors made us trim our prices,” JSW Steel joint managing director Seshagiri Rao said.