India: Primary Steel Producers Increase TMT Prices by INR 500-1,000/MT for Jan’14

Increased Finish long demand already pushed the secondary Steel market northward. Sustaining this upward trend, now primary Steel producers have also raised their TMT offers by INR 500-1,000/MT for January, 2014.

• SAIL, one of the largest state-owned steel-making company has increased TMT and Wire offers by INR 500/MT.
• Tata Steel, an Indian multinational steel-making company has improved TMT offers by INR 800/MT.
• RINL, an Indian government-owned Steel producer, based in Visakhapatnam, has moved up its offer by INR 400/MT for TMT and by INR 500/MT for Round.
• JSW, India’s leading integrated Steel producer has increased its TMT offer by INR 900/MT.

Whereas, respective dealers presently increased the prices by INR 500-1,000/MT which may further rise as per the new price list that will receive by the Company, SteelMint learned.

Primary 12 mm TMT Offers in all major cities:

 ED Included Price in INR/MT, VAT Extra

[su_quote]The demand of Finish Steel increase in comparison to last month. Demand is now more desirable and we are receiving calls regularly, said a well known primary TMT trader. Owing to shortage in raw materials and stimulated finished demand, TMT prices are increasing in the range of INR 200-300/MT on daily basis. Hike in primary Steel prices can also support to keep this increment, he further added.[/su_quote]