Rashtriya Ispat Nigam Ltd (RINL), India's largest manufacturer of Re-bar with a production capacity of 2.5 MnTPA has kept its October prices unchanged for re-bars, billet and wire rod. However some other manufacturers have raised prices by RS 500-1000/MT owing to rise in freight charges.
RINL is offering its Re-bar (8 mm) at below mentioned price:
At Vizag: INR 44350/MT
At Mumbai: INR 45050/MT
At Kolkata: INR 45050/MT
Note: All prices are inclusive of ED.
Secondary Re-bar market on the other hand is witnessing a downturn of INR 500-1,500/MT on M-o-M basis, owing to weak demand and up coming elections in many states, which have slowed down construction activities by state government.
However in Mumbai, secondary TMT prices went down marginally by INR 500/MT on W-o-W basis and is being traded at INR 38,800/MT. (ED included, VAT Extra)
Indian Long Steel market is going through a horrible phase. It is falling repeatedly because of poor off take in sales volume which in turn is low with seasonal demand and lesser construction activities.
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