Large Steel Producers Increase Rebar Offers by INR 500-1,000/MT: sources

SAIL and RINL have increased rebar offers by INR 1,000/MT and 500/MT respectively w.e.f 1 Sep’16.

Government owned Steel Authority of India Limited (SAIL) and RINL(Vizag steel) has declared the revision of rebar prices for the month of Sep’16.

As per our trade sources, SAIL has increased rebar prices by INR 1,000/MT while RINL (Vizag steel) has increased prices by INR 500/MT. The new prices will be applicable from 1 Sep’6.

SAIL has already increased rebar prices by INR 300-400/MT on 30 Aug’16.

One of the RINL distributor based in Chennai commented that prices surge by INR 500/MT from 1 Sep’16. Current offers for 12-32 mm are at around INR 29,000-30,000/MT (including Excise duty, VAT extra) ex-Chennai.

On the similar lines, another distributor of SAIL based in Chandigarh also mentioned that the company has increased rebar prices by INR 1,000/MT. Current offers for 12-32 mm are assessed at around INR 30,000-31,000/MT (including Excise duty, VAT/CST extra) ex-Chandigarh.