New Delhi April 2: Secondary steel producers are "open to reduction of prices if possible", Steel Secretary RS Pandey said today.

They have also volunteered to import an additional 0.6 million tonne hot rolled coils to increase availability of steel in the domestic market.

"The secondary steel producers agreed with our concern on inflation and have volunteered to import an additional 0.6 million tonne hot-rolled coils in addition to the one million tonne being imported annually. This would help in stabilising steel prices," Pandey said.

They have also pledged to exercise self-restrain on exports as has been agreed by leading primary producers.

High metal and food prices pushed inflation to a 13-month high of 6.68% during the week ended March 15, and the government is going all out to contain prices of essential items.

Secondary steel producers have also said they will observe transparency in their pricing mechanism. "They have said that henceforth they will publish the price list of their produce," Pandey said.

The demand-supply mismatch for hot-rolled coils in the country is to the tune of two million tonne.