Vizag steel (RINL) one of the largest long steel producer in India has kept the rebar prices unchanged for June’18 except for 16mm size which is hike by INR 350/MT as per sources.
However, the company has increased its Structure and Round prices by INR 500-750/MT for the same month.
The prime reason behind the price hike in few products like structure and rounds mentioned by few dealers is due to lesser availability of inventory.
Presently, large steel producers offers 12MM prices which are assessed in the range of INR 44,500-45,000/MT (GST 18% extra) in Chennai and small & medium based rebar mills are offering at around INR 41,000/MT (GST 18% extra).
RINL has reported saleable steel output was around 4.5 MnT in last fiscal 2017- 18 and targeting to achieve 5.5 MnT in the current fiscal year. It is also targeting to achieve the production capacity close to 6 MT in FY’19.
As per the market participants, other large scale rebar producers like SAIL, Tata Steel, JSW and JSPL are expected a slight hike in prices in the coming days.
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