B Muthuraman, managing director of Tata Steel, today ruled out any revision in prices under long-term contracts, but said global prices are likely to rise slightly in the coming months."There will be no change in the long-term prices as we need to keep them at a level at which the company can sell," Muthuraman said.He added that demand is likely to grow at 4.5-5% globally and 7-8% in India.About the trend in global steel prices, he said there could be a slight increase in the next couple of months, but should stablise around $450 per tonne.On expansion plans of the company, he said work at the Jamshedpur plant to increase capacity to 7.4 million tonne should be completed by 2008."The feasibility study of the Bangladesh project has been completed, and the company is exploring several options in Pakistan and Iran," he added.
