TMT manufacturers in Raipur have increased prices for 8MM, 10MM, 28MM & 32MM by Rs 200/MT. 8MM price in Raipur will now be calculated as Basic price + 1800/MT. The increase in Gauge difference has been also implemented in Jalna and Pune. For calculating 8MM rate in Jalna, Rs 2200/MT will have to be added to the Basic price. Whereas, Rs 1600/MT for arriving at 8MM price in Pune.
On the demand front, a trader in Raipur brought out that “Demand from MP has improved quite a bit. This happened at the same time when demand from Hyderabad came down.”
Although for power cuts but prices in Kerela and Tamil Nadu have seen some improvement. This price increase may be momentary as monsoon is around the corner and there is a good chance of supply improvement in the states. Supply for Ingot will see some improvement in the weeks to follow as the Tamil Nadu state government has announced release of more power i.e. less power cuts.
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