India: Primary Re-bar Producers raise Offers Consecutively for Jun’14

Primary Re-bar producers have raised offers by INR 500-1,500/MT consecutively for Jun’14. Raw material shortage and high secondary offers made them to increase offers.

Primary producers had revised their Re-bar offer by INR 500-1,000/MT in mid of May’14 eyeing to shortage of raw material. They have again escalated offers upto 1,500/MT in May end for the current month.

1. SAIL, one of the largest state-owned steelmaking companies with an installed capacity of 1.7 MnT pa Re-bar & Wire, has increased Re-bar offers by INR 1,000-1,500/MT
2. RINL, an Indian government-owned steel producer based in Visakhapatnam with an installed capacity of 1.6 MnT pa Re-bar & Wire, has moved up its finish Long offers by INR 1,500/MT
3. JSW, India’s leading integrated steel producer with an installed capacity of 1 MnT pa Re-bar, has increased its TMT offer by INR 850/MT as it has bagged Re-bar order in large quantity
4. Tata Steel, an Indian multinational steelmaking company with an installed capacity of 3 MnT pa Re-bar & Wire, has raised its offer by INR 500/MT as it had already revised its prices by INR 1,000/MT in May’14
5. Other primary producer, Monnet & JSPL have also confirmed to raise the offers by INR 700-1,000/MT
6. Secondary steel prices in May increased by INR 2,000-2,500/MT and this week prices remain unchanged

Primary 12 mm TMT Offers as on June, 2014

MOU/Distributor price in bulk quantity, ED included; VAT extra