RINL increases rebar offers thrice in Sep’16
Government owned RINL (Vizag steel) has raised rebar prices further by INR 700/MT w.e.f 19 Sep’16. The company had earlier increased rebar prices by INR 500/MT twice on 1 Sep’16 and 10 Sep’16.
An RINL distributor, based in Chennai shared that the company has increased rebar offers by INR 1,700/MT in three tranches. Currently, it is offering at about INR 30,000-30,500/MT for 12-32 mm (including excise duty, VAT/CST extra) ex-Chennai.
He also added that the demand of rebar is not very active in the current month especially after the prices rose to this level.
Trade sources also revealed that government owned Steel Authority of India Limited (SAIL) and JSW steel, based in South India are likely to increase rebar offers by INR 500-1,000/MT in the upcoming months.
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