In Gujarat and South India buying is slow down due to Makarsakranti and Pongal that was being celebrated to a week long. Re-bar demand in South India expected to improve in few days says a well known trader based at Thiruvananthapuram.
As demand slow down conversion from Ingot to TMT is dropping across India. Raipur conversion falls by Rs 2,193/MT which is Rs 5,731/MT on April, also in Hyderabad and Mumbai it falls by Rs 2,180/MT and Rs 1,451/MT as of Rs 5,286/MT and Rs 5,395/MT respectively, from April 2012 to December 2012 on an average basis.
In a news JSW Steel Limited has reported 31% growth in the production of long rolled products to 4,83,000 tons during the quarter and the production of flat rolled products has gone up 13% to 1,56,000 tons.
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