Large Scale producer surprise the market today by increasing rebar price by INR 500-1,500/MT.
SAIL increase its Rebar price by INR 1,500/MT and Vizag Steel also known as Rashtriya Ispat Nigam Limited (RINL) has increased by INR 500/MT for Mar’17 delivery, according to sources.
Large scale producer that has kept price unaltered for Feb’17 has surprise market by increasing price for Mar’17. Rebar price by Medium & small scale producers in month of Feb’17 has reduced marginally by INR 200-600/MT. (considered monthly average price compared to Jan’17 average).
RINL’s present 12MM rebar offer for Mar’17 delivery are at INR 35,000/MT ex-works (ED/ VAT Extra) that was trading at INR 34,500/MT (after rebate). SAIL Rebar price after sharp hike by INR 1,500-1,650/MT are at INR 35,500/MT. These prices are effective from 1st March’17 & ED Included.
“Price increased considered rise in coking coal price by USD 5-10/MT W-o-W over positive sentiments” sources close to RINL company official said.
SAIL dealer stated that “We are not expecting this increase in price. There are expectations that SAIL may roll over or give rebate of INR 500/MT to liquidate rising stock. Present retail 12MM trading price in central India are approx INR 41,900/MT (incl all taxes).” He added that they have increased prices of Wire Rod 6MM by INR 700/MT for the March’17 Deliveries.
It should be noted that large producer’s exports of Semis (Pig iron, Billet/Slab) has also increased. Following the increase prices by SAIL and RINL, other large scale producers JSW, TATA and JSPL are expected to follow the suit.
Large Scale Rebar Price Range Since Nov’16
| Month | Prices | M-o-M |
| Nov’16 | 30,500-30,800 | 1,000 |
| Dec’16 | 31,500-32,000 | 1,500 |
| Jan’17 | 34,500-35,000 | 3,500 |
| Feb’17 | 34,000-35,000 | – |
| Mar’17 | 35,000-35,500 | 750 |
Prices in INR/MT, Excise duty, VAT/CST extra
Leave a Reply