Indian large mills raise rebar prices by upto INR 3,000/t ($41) in May’21

Large integrated steel mills (both state-owned and private) have raised their finished steel prices by up to INR 3,000/t, trade sources reported to SteelMint. However, revised offers from a couple of private mills based in eastern India could not be confirmed till the time of publishing this article. The current offer for rebar (12-32 mm) stands at INR 55,000-56,000/t ex-Mumbai, excluding GST, depending on different brands. Robust demand for Indian BF grade billet from overseas market lowered production and healthy rebar allocations in the project segment have resulted in a sharp hike in offers.