As per trade sources report to the SteelMint, JSW Steel & Vizag Steel (RINL) – India’s largest steel producers, both have raised Long Steel – rebar prices for Mar’19 deliveries on account of healthy bookings and decent demand.
JSW Steel took the major price hike in rebar around INR 1,500/MT (USD 21) for this month.
Meanwhile Vizag Steel- State owned steel maker, has increased rebar prices by INR 300-800/MT depending on the location and sizes, although it roll-over offers for other finished long products. In Southern region, rebar prices increased by INR 300-500/MT and in Western region by INR 500-800/MT for Mar’19.
Following significant hike, rebar prices by the large players stood at close to INR 42,000-42,500/MT ex-Mumbai, 12 mm & excluding 18% GST.
Prior to this in Feb’19, JSW Steel had announced price hike in rebar upto INR 2,000/MT in two branches, while Vizag Steel has increased prices by INR 500/MT in the mid of Feb’19.
JSW Steel’s recent Rebar Exports
According to vessel line up data maintained by Steelmint, JSW Steel has also exported rebar via two shipments in the month of Feb of 19,800 MT and 17,500 MT each from India’s South coast and material is likely to be shipped to South East Asian countries.
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