One of the largest finish long steel producer – SAIL (Steel Authority of India Limited) has increased rebar, HRC & billet prices by INR 500/MT (USD 7) across regions, w.e.f. 15th Feb’20.
With the fresh price hike, company’s rebar offer stands around INR 39,500/MT, Size – 12 mm, ex- Mumbai (Kalamboli).
Citing strong market fundamentals, the company has raised offers. Its also heard that primary mills are having appropriate future bookings from projects in particular regions. Rebar inventories with Indian primary mills have reported to have lowered by close to 38% M-o-M in Jan.
According to data compiled by SteelMint, Re-bar inventories with the major mills like SAIL, Vizag Steel, Tata Steel, JSW Steel and JSPL have lowered to around 2,30,000 MT in Jan’20 against 3,70,000 MT in Dec’19.
Current rebar price gap between the large & medium scale mills hovering around INR 3,000-5,000/MT across regions which is believed to be required price gap among trade associates and last week limited trade volume was observed at minor discount level by INR 400-600/MT in specified locations.
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