India: RINL has reduced its Re-bar price by Rs 700/MT for June'13 across its depot. Whereas major giants like SAIL, TATA, and Jindal has kept its prices unchanged.
The premium gap for secondary and primary TMT continue to remain at Rs 4000-5000/t. Offer of 8MM in Mumbai by RINL is at Rs 45,150/MT whereas SAIL is at Rs 45,700/MT (ED included, VAT extra) in contrary secondary manufacturer TMT is available at Rs 40,000/MT (ED included, VAT extra)
Market participant said, 'Price reduction is done considering monsoon season ahead, as company want to clear its inventory'. They also believe demand in secondary steel is also low as compare to last year demand.
Leave a Reply