Government owned Steel Authority of India Limited (SAIL) has increased rebar offers by INR 300-400/MT w.e.f 30 Aug’16 as per our trade sources. It is also heard that the company is most likely to increase prices by INR 500-700/MT in the beginning of Sept’16.
It is also expected that other large producers like JSW Steel, RINL, Tata Steel and JSPL are also likely to follow suit in the days to come.
One of the SAIL distributor based in Chennai commented that prices surge by INR 300/MT from today. Current offers are around INR 29,000/MT (including Excise duty, VAT extra) ex-Chennai.
On the similar lines, another distributor of SAIL based in Chandigarh also mentioned that the company has increased prices by INR 300-500/MT. Current offers for 12-32 mm are assessed at around INR 29,500/MT (including Excise duty, VAT/CST extra) ex-Chandigarh.
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