India: Re-bar Prices inch up in Central and Northern Region

Re-bar prices increased by INR 200-300 per MT in Central and Northern Region from last trade.

Chhattisgarh
Re-bar prices have increased by INR 200-300 per MT in Raipur for the reason that Semi finish prices increased in city. Ingot and Billet manufacturers have cut their production on dull demand in steel market. There are approx 15-20 manufacturers who have more than two or three furnaces, using only one or two of them. This resulted in shortage of Semi finish products and hike in product prices.

An average price for 20 mm TMT is around at INR 30,200-30,500 per MT which is increased by INR 200-300 per MT.  Whereas GK TMT’s price is untouched for the day and 20 mm Re-bar is quoted at INR 31,200 per MT.

Madhya Pradesh
Anant Steel Pvt. Ltd. with a Re-bar production capacity of approx 14,000MT per month based in Indore has increased its prices by INR 300 per MT from last trade.  20 mm TMT is offered at INR 34,800 per MT.

Uttar Pradesh
Ingot and TMT prices have moved up by INR 100-300 per MT in Muzaffarnagar because of increased Ingot prices in Mandi Gobindgarh. MS Ingot and 12 mm TMT are offered at INR 30,400 per MT and INR 32,500 per MT respectively.

Above mentioned all Prices are Basic.