Vizag Steel Plant (VSP) also known as RINL has further increased its prices for Jan 2018 deliveries by INR 1,000-2,000/MT (USD 15-31). The move comes in the wake of increased raw material cost and high export orders with the company.
Vizag steel is a state owned producer with an annual capacity of around 6.3 MnT crude steel. Company is also the largest long steel producer in India.
Company raised prices in last week of December by INR (USD 1,500/MT), prices have increased by INR 2,900/MT (USD 46) in last two months.
The latest price hike assessed for Wire Rod by INR 1,500/MT, Structure by INR 1,000/MT, Re-bars by INR 2,000/MT, Billet by INR 1,500/MT & Pig Iron by INR 700/MT, as per the company’s price circular w.e.f. 1st Jan 2018.
The revised offers are as follow –
1. Wire rod (5.5mm, HC 50 – HC 85) at INR 42,800/MT,
2. Rebar (8mm IS1786 Fe500D) at INR 41,350/MT
3. Billet (125×125 mm IS 2830) at INR 33,950/MT
4. Pig iron (LSB) at INR 25,500/MT.
Prices are excluding 18% GST & ex-plant, Vizag.
Vizag Steel had concluded few export deals of billets and wire rod through tender process in the month of November and December for which deliveries are due in January and February.
According to market source, other large steel producers like – JSW, JSPL,SAIL & TATA Steel have raised long steel prices by INR 1,000-1,500/MT (USD 15-18) for Jan’18.
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