Central India: Raipur based mid-scale mill increases rebar price by INR 500/t

Raipur (Chhattisgarh) based Real Ispat & Power Ltd (GK TMT) has further raised its rebar offer by INR 500/t. Current offer for 10-25 mm size stands at INR 36,000/t, exw. The prices rallied following a surge in sponge & billet prices along with improved demand, trade sources report to SteelMint. As per our assessment, sponge iron & billet prices in Raipur increased by INR 1,000/t, w-o-w.