Rashtriya Ispat Nigam Ltd (VSP), a state owned Steel Company at Vishakhapatnam (Vizag), India, has raised its Billet and Re-bar prices by Rs 700/MT and Rs 500/MT respectively for Sept'13. The price revision was expected as secondary Re-bar price has increased by Rs 2,000-3,000/MT M-o-M.
RINL is selling the following steel at below mentioned price:
Re-bars (8mm)
At Vizag: 44350/MT
At Mumbai: 45050/MT
At Kolkata: 45050/MT
Billet (125x125mm)
At Vizag: 36750/MT
At Mumbai: 40350/MT
At Kolkata: 39000/MT
Prices are including ED.
RINL is the largest manufacturer of Re-bar in India which has produced 2.51 MnT Bars and Rods in FY 13 according to JPC report. The price revision was due to rising cost of raw material like coking coal, and Iron ore. It's also being learned RINL is eyeing on export market for its Billet and Re-bar material especially middle east region.
Along with this it has come to know that SAIL has received 1,00,000 tonne export offer of Billet and Re-bar for 2 months.
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