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01 Jun

Iran forces Sail to cut contracted rail price: reports

Steel Authority of India (Sail) has cut by 7.3% the contracted price of rails it is supplying to Iran after the Middle Eastern country threatened to walk away from an agreement, The Financial Express reports. An Iranian delegation that visited India last month told Sail’s representatives Iran Railways could get the rails for cheaper from Turkey or Europe due to the euro depreciation against the dollar, as well as the decline in global steel p…
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