Rashtriya Ispat Nigam Limited (RINL) state owned and one of the largest finish long steel producer based in southern region has successfully resume their blast furnace which was closed since Sep’19. It’s being learned through closed trade sources that it has resumed operations since last couple of weeks.
Currently RINL is producing around 15,000-16,000 MT hot metal per day as per sources. And it was also reported that company has witnessed increase in steel inventories by around 40,000-50,000 MT in Feb’20.
There are indications that few large mills might increase long steel prices by around INR 500-1,000/MT for March deliveries.
However dull demand was reported amongst the secondary rebar producers. In context to finished steel sales where consumption, it was registered at 4.45 MnT in Jan’20 which is stable against Dec’19 and certain measures have been initiated from banking sector to secure infrastructure projects as well as housing segment sales.
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