Government owned Steel Authority of Indian Limited (SAIL) has increased rebar prices by INR 3,000-3,500/MT for the month of Jan’17 as per sources.
The new prices are to be effective from 1 Jan’17.
Since the beginning of Dec’16, the company has increased its rebar prices by about INR 5,000/MT till now.
Presently, large scale producer 12MM rebar prices are assessed in the range of INR 40,000-41,000/MT (excise duty included, CST/VAT extra).
The company official is claiming that sharp rise in the domestic steel prices is because of the continuous increase in raw material prices especially imported coking coal prices from the last few months.
SAIL has 27% market share in large scale (above 4 million tonne) producer in crude steel production and 9-10% in long product production in FY16.
Few others large steel producers like RINL, JSW, JSPL has already increase its long product prices in the same quantum in the starting of the current month.
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