Raipur TMT prices of various brands went up by Rs 200-400/MT
and traded at Rs 37,200/MT (Basic price). According to a trader, “Prices
went up due to a hike seen in Ingot prices yesterday but there was no significant
rise in the trading volumes”.
Prices also went up by Rs 100-200/MT at other places like
Durgapur, Mandi Gobindgarh & Kolhapur. However, Re-bar manufacturers in
Hyderabad cut their offers by Rs 200/MT after raising it by Rs 500/MT on Monday.
According to market players, “Demand is expected to improve in the coming weeks.
Chances are less for the prices to correct further as conversions have already gone
down. Prices should improve now else Re-bar manufacturers will have to
bear the brunt of heavy losses”.
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