Indian govt owned steel mill has reported crude steel production up by 8% to 16.3 MnT in FY19 against 15.02 MnT in previous fiscal.
The country’s largest public sector steel producer has shown much improved performance in FY19 in terms of production, techno-economies and sales etc.
SAIL hikes finished steel price for April – Recently, major Indian steel mills announced hike in flat steel prices in the beginning of the week by INR 500/MT (USD 7) for April deliveries. Following the suit govt owned Steel Authority of India Limited (SAIL) has also raised domestic HRC & CRC prices by around INR 500-1000/MT (USD 7-15) for April deliveries.
After increase, company’s effective prices for HRC (2.5-8mm, IS 2062) is around INR 43,250/MT (ex-Mumbai). Meanwhile CRC prices surge by INR 1000/MT in April. Thus after increase revised offers for CRC (0.9mm, IS513Gr) is INR 48,500/MT (ex-Mumbai). The prices mentioned above are basic and extra GST@18% is applicable.
Company has also raised rebar prices by INR 750-1000/MT in April depending on locations. Current prices are assessed at INR 41,500/MT (ex-Mumbai).
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