Despite moderate demand for Re-bar and structural steels, manufacturers have to raise offers looking at rising ingot and sponge prices.
” There is good demand generated for Ingot and Billet from Hyderabad and Chennai on power cuts. But demand for finished steel has not improved. ” said traders based in Raipur.
“Re-bar manufacturers are bound to raise offers as cost of buying raw material has increased. Off take has been low as buyers are cautious buying on higher prices.” said a Re-bar manufacturer based in Hyderabad.
TMT prices at Hyderabad offered at Rs 39,000/t , where as prices in Raipur hovering around Rs 37,500/t.
Chennai was effected the most as prices for 12mm TMT touched Rs 42,500-43,000/t.
Note: All Prices Ex Works, Basic Prices.
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