Medium and small scales Industries has significantly surge the prices and in line the Indian large producers also in discussion to increase prices soon as per SteelMint sources.
In the beginning of Mar’17 the large producers have already spiked prices up to INR 1,500/MT; specifically SAIL by INR 1,500/MT and RINL by INR 500/MT for rebar.
In fact they are now planning to further increase prices approximately INR 500-1,000/MT for rest of the Mar’17.
According to the authentic sources in condition of anonymity “We are planning to increase the prices to push retail sales and also to inline our price with small & medium scale producer”.
SteelMint also learned that rebate offers by large producer during Mar’17 have increased due to financial year closing sales pressure. Currently, 12 MM rebar prices are in the range of INR 37,000 to 39,000/MT ex Works inclusive ED and VAT extra. Which after increase for 12MM will be at INR 38,000 to 40,000/MT.
They also added currently the prices gap between the both Industries have decreased to INR 1,500-2,000/MT, which usually maintained around INR 3,000/MT above.
On M-o-M, rebar prices by small and medium scale industries have increased prices up to INR 4,000/MT to INR 37,700-38,200/MT ex-Delhi (North India), INR 36,000-37,000/MT ex-Mumbai (Western India) & INR 36,000-37,000/MT ex-Chennai (South India). Prices are for 12 mm inclusive ED (12.5%) & VAT extra.
Prices are basic,ED and VAT/CST Extra
Sources: SteelMint Research
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