Large integrated steel mills (both state-owned and private) have raised their finished steel prices by around INR 4,000/t, trade sources reported to SteelMint. The current offer for rebar (12-32 mm) stands at INR 52,000-53,500/t ex-Mumbai, excluding GST, varying on different brands. Bullish market sentiments in the secondary long steel market, healthy allocations in the project segment along with narrowed price gap between IF and BF route have resulted in a sharp hike in offers.
Leave a Reply