Vizag Steel Plant (VSP) also known as RINL has increased Finished Long Steel – Rebar prices by INR 500/MT (USD 8) for April 2018 deliveries. Prior to this during Mar’18, the company had raised prices by up to INR 1,000/MT (USD 15), according to the company’s price list.
Vizag steel is a state owned producer with an annual capacity of around 6.3 MnT crude steel. Company is also one of the largest long steel producers in India.
It seems that the demand have boosted with the optimistic trade sentiments and somehow low inventory levels could have also one of the major factor to consider stretched up prices in recent by Vizag Steel. The company is also packed with healthy export orders which dispatches going on.
The medium and small scale mills have also elongated the price range by around 2-4% on monthly basis from Feb’18 to Mar’18 at major locations. And as per the producers specifically in South India demand have strengthened as infrastructure projects works is on faster pace.
Vizag Steel’s domestic price hike assessed for Rebar by INR 500/MT, Structure by INR 500/MT and INR 1,000/MT for North Region. The company also raised Pig Iron prices by INR 600/MT, as per the price circular w.e.f. Apr 1, 2018.
The revised offers are as follow –
1. Wire rod (5.5mm, HC 50 – HC 85) at INR 45,800/MT (Unchanged).
2. Rebar (8mm IS1786 Fe500D) at INR 46,330/MT (Revised).
3. Pig iron (LSB) at INR 29,100/MT (Revised).
4. Channel (200×75 mm, IS 2062 Gr. A) at INR 40,780/MT (Revised).
Prices are excluding 18% GST & ex-plant, Vizag.
— Vizag Steel has issued a tender for export of 8,256 MT billet (Size – 90*90) & 5,504 MT Wire rod coil for Nepal and the price validity expiring on 10th Apr’18.
— RINL’s last billet export tender to Nepal was concluded in the starting of Mar’18. The company concluded the entire tender quantity of 11,008 MT (equivalent to 4 rakes) billet to Nepal at around USD 515-520/MT (ex-mill).
— RINL’s another export tender of 20,000 MT Blooms (150*150 & 200*200mm) had expired on 5th Apr’18 which results yet to be declare.
— RINL’s previous export tender for 40,000MT billet /bloom received good response. 65*65mm was concluded at around USD 535/MT, FoB India; 150*150mm at around USD 515-520/MT, FoB India, 75*75mm billet around USD 520-525/MT, FoB India and 200*200 mm at around USD 505/MT, FoB.
Leave a Reply