TMT bar prices in Chennai noticed a sudden hike due to recent power cuts in the state. Prices went up to Rs 1,000-1,200/MT for long and structural steels.
” Demand is good and people anticipate prices will go up further after power cuts. 12mm TMT which was sold at Rs 38,900/MT last Friday is trading at 40,100/MT at present”, said a TMT manufacturer based in Chennai.
Whereas, 50mm Angle which was quoted at Rs 39,000/MT last Friday is now trading at Rs 40,300/MT, he further added.
* All basic prices, excise and taxes extra.
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