APL Apollo Tubes Ltd – one of the largest ERW pipes manufacturers in India has increased price by INR 1,000/MT yesterday (11th Dec’19).
The current offers floated by APL Apollo for ERW Pipe are reported at around INR 39,500/MT (USD 558), which was earlier trading at INR 38,500/MT; ex-plant in central India, Chhattisgarh. The fresh prices are valid till 28th Dec’19.
The reason behind the price hike as cited by official is increase in domestic flat steel prices in line with hike in global offers.
He also mentioned that, “few major mills are looking to increase steel prices in the next month on anticipation of good demand.”
SteelMint learned that, Indian steel prices are strong from last couple of months and since Nov’19 the major mills hiked HRC prices by around INR 1,000-1,250/MT (USD 14-18) in Dec’19 on high export prices.
In context to price movement by secondary ERW pipe mills, the offers are more or less firm in a week’s duration and the fresh offers hovering at INR 30,500-30,600/MT ex-Raipur (Chhattisgarh) & INR 30,500/MT ex-Rourkela (Odisha), excluding of 18% GST.
APL Apollo Tubes Limited is the largest producer of Electric Resistance Welded (ERW) Steel Pipes and Sections in India, with a capacity to produce 2.5 MnT pa. The company has vast distribution network is spread across India, with warehouses and branch offices in 29 cities.
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