Central India: Leading rebar mills in Raipur raise prices

Increasing prices of raw materials has led to a rally in rebar prices in the domestic market while demand remains modest, as per sources. Chhattisgarh, Raipur-based GK TMT has raised prices by INR 500/t to INR 49,000/t, exw. Also, Goel TMT has hiked prices by INR 700/t to INR 49,200/t, exw. These prices are for rebar 10-25 mm in size and exclude taxes. The market expects finished steel prices to remain strong given the raw material price outlook. On 2 Jun’21 sponge iron and billet prices in Raipur increased by INR 700-800/t d-o-d, as per SteelMint assessment.