Steel prices (Ingot, Billet, Sponge and Finished products) increased by INR 700-1,400/MT in last one week across India.
Limited production of Ingot/Billet due to low conversion cost and shortage of Raw material have increased the product prices creating center of attention to finished buyers. Eyeing the spurt in Steel prices finished demand has increased in some places of India.
In Rajasthan, Re-bar prices are increased by INR 1,400/MT on W-o-W basis. In Jaipur 12mm Premier Re-bar is being quoted at INR 35,900/MT, INR 300 higher from last trade. (Basic Price)
According to a Re-bar trader based at Jaipur –“Ingot prices are increasing 2-3 times in a day and it is attracting the demand for finish buying.”
Whereas in some places Re-bar manufacturers have changed the prices of Re-bar gauge difference to make a balance in conversion. In Muzaffarnagar, Jaipur and Durgapur the prices on Re-bar gauge difference are increased to about INR 300-500 in various sizes.
Gauge Difference
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