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India’s JSW Steel announced a 2 percent price increasing for all products, following the excise duty rising in India.

India’s Finance Minister Pranab Mukherjee presented the annual budget to parliament on February 26th raising the excise tax to 10 percent from 8 percent for near all products.

JSW Steel is India’s third largest steelmaker, month before the company said they expect to get approval on four local iron ore mines from government.