Monday, March 28,
Re-bar & Structure prices moved up by Rs 300-500/MT at most of the major mandis’ followed by a hike in Ingot prices & power shortage in few regions.*
Manufacturers in South & Eastern India attribute power shortage in these regions to be the reason for such hikes as power shortages is severely affecting their productivity.
Whereas, traders & brokers in Western India, especially in Maharashtra believe the hike in VAT to 5% , announced in the state-budget to be one of the reasons behind such hikes.
Buying interest seems to pick up gradually and more improvement might be seen in coming months when construction activity in projects pick up and inventory with traders/brokers fall due to gradual stock depletion.
Leave a Reply