The Re-bar market on Thursday witnessed limited activities
with prices declining further at few mandis'.
12 mm in Durgapur tarded at Rs 42,600/MT i.e. down by Rs 200/MT. According to market players, “Sales
are very low. Manufacturers are not willing to reduce their quotes as
production cost remains high. Prices should remain at the current level until
demand improves.”
Manufacturers in Vizag
said, “The ban on sand mining has not been resolved yet. Constructions
activities have stopped at most of the places in Andhra Pradesh. Few mills are also
shut down in Vizag. Availability of Finished steel is also low due to
lower availability of raw material and reduced production level”.
In other news, a huge explosion occurred in VSP (Vizag Steel
Plant) in the recently commissioned oxygen plant on Wednesday night. This was
the second accident in a span of one month and occurred during trial runs of
facilities commissioned under 6.3 million tonne expansion project
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