RINL, India’s largest manufacturer of Re-bar with a production capacity of 2.5 MnTPA has kept its Nov’13 prices unchanged for re-bars. Some other manufacturers have also kept prices untouched.
RINL is offering its Re-bar (8 mm) at below mentioned price:
At Vizag: INR 44350/MT
At Mumbai: INR 45050/MT
At Kolkata: INR 45050/MT
Note: All prices include ED.
Secondary Re-bar market on the other hand is witnessing a downturn of INR 1,500-2,000/MT on M-o-M basis, owing to low trading on account of festivals and upcoming elections in many states.
In Mumbai, secondary TMT prices went down by INR 2,000/MT on M-o-M basis and is being traded at INR 37,000/MT. (ED included, VAT Extra)
Indian Long Steel market is enduring low demand continuously. Prices are falling repeatedly because of poor off take in sales volume which in turn is low with festive seasons.
Primary steel producers do have a good export orders for Re-bars and Wire Rods but eyeing to downfall in secondary long steel market they have to keep prices unchanged. However with steel prices going up in global market, primary manufacturers are bullish on exports market.
Last deal on Wire Rod was done at around $590/t FOB from Chennai post in the month of October.
Leave a Reply