Raipur-based major IF re-bar mills such as GK TMT have raised prices by INR 500/t to INR 46,800/t exw. Also, Goel TMT has hiked prices by INR 600/t to INR 47,000/t exw. Prices are for re-bar Fe-500D and for 10-25 mm material, excluding GST. Increasing prices of semi-finished steel have triggered a rally in re-bar prices in central India, while demand remains moderate. Sources expect near-term re-bar prices to remain supported owing to fluctuations depending upon movements of steel billet prices.
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