JSW raised price of finished products for March, 2014. Following the suit, SAIL is likely to increase Finish Long prices. Low inventory and shortage of the materials indicates price hike further.
JSW Steel has decided to increase steel prices again. This time the quantum of increase has been kept between INR 500/MT and INR 750/MT for both Flat and Long products and will be effective from 1 Mar, 2014. This is in contrast to the first two hikes of INR 900/MT in January and INR 900/MT in February for long Steel. Other companies are also expected to follow the suit as SAIL already indicate price hike and TATA, RINL may further take advantage.
SAIL is likely to make a price increment of INR 500/MT for March, 2014 confirmed the sources. It had raised its Re-bar offers by INR 500-1,000/MT for February, 2014. SAIL has 1.7 MnTPA Bars & Rods production as well as it is going to expand its capacity in near future.
Company’s official said, “SAIL produces Re-bar in its three plants i.e. DSP, BSP & ISP, out of which BSP & DSP plants’ Blast furnaces are in maintenance for Feb’14-Mar’14. Owing to this, SAIL is going through raw material shortage and low inventory in Re-bar. Before 15 days, 12 mm & 16 mm TMT prices has been increased once again by INR 500/MT to about INR 44,000/MT for Feb’14 as there is high shortage of these TMT.
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