The state-owned steel maker Steel Authority of India (SAIL), may cut output as demand for vehicles, homes slump and commodity prices tumble, reports Business Standard.

According to Steel Secretary Pramod Rastogi, production of some of the products, including hot rolled (HR) coils and long products, at SAIL may be cut temporarily.

The company due to falling demand for long products and HR coils in India had cut down the production of HR coils and long products by 37% last year.

SAIL is one among many global players slashing outputs as consumers defer purchases of homes and cars, driving down demand and prices of their products.  The world`s largest steel maker ArcelorMittal is likely to slash production by more than 30% in Europe and US.

Shares of SAIL declined Rs 6.45, or 8.24%, to settle at Rs 72. The total volume of shares traded was 4,733,267 at the BSE (Wednesday).