Re-bar manufacturers in Mumbai increase TMT prices by Rs 1,900/MT in last 3 weeks. Improved demand for re bar and high ingot prices forced manufacturers to hike prices.
Similarly improved demand at Raipur pushed re bar prices by Rs 2,500/MT. A trader based at Raipur says prices might touch the level of Rs 35,500/MT till the end of January, today TMT traded at Rs 34,800/MT (Basic price) in Raipur.
Durgapur and Rourkela improves the most by Rs 2,900/MT in 3 weeks, in line with increase demand.
Trader from Durgapur says “demand is good for finish long in local market and we expect prices to improve further in upcoming days.
Re bar offers in Durgapur is at Rs 40,100/MT (Including all) and in Rourkela TMT is traded at Rs 35,300/MT (Basic prices).
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