RINL increases rebar offers 4th time and SAIL 3rd time during Sep’16.
Government owned RINL (Vizag steel) and Steel Authority of India (SAIL) has increased rebar prices again by INR 500 – 1,000/MT as per our sources. The increased prices will be effective from 25 Sep’16.
Since the beginning of Sep’16, RINL has increased rebar prices by about INR 2,200/MT in four tranches and SAIL by about INR 2,000/MT in three tranches.
An RINL distributor based in Chennai shared, “This is the fourth time the company has increased rebar prices by INR 500/MT since Sep’16 beginning. Currently, it is offered at about INR 31,000-31,500/MT for 12-32mm (including excise duty, VAT/CST extra) ex-Chennai”.
He also added that the demand of rebar was quite good in the current month compared to previous month. We expect that the prices will continue to rally in the next month too.
Another SAIL distributor based in Punjab told that the company has raised rebar offers by INR 1,500-2,000/MT since the beginning of the current month. In retail segment, offers are up by INR 1,500/MT and in projects, by INR 2,000/MT.
Post price rise, the company is offering at INR 31,000/MT in projects and in retail at INR 32,000/MT for 12-32mm (including excise duty, VAT/CST extra) ex-Chandigarh.
Note: Price are basic, excise duty & other taxes extra
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