Vizag steel (RINL) which is one of the largest long steel producers in South India has revised its prices of Billet/ Bloom, Structure & Rounds w.e.f 9 June’18 as per our sources.
The company has increased its Structure prices by INR 500/MT, Round prices by INR 500-750/MT and billet/ bloom prices by INR 500/MT.
This is the second time in the same month when the company has revised prices of its products in June’18. Earlier, the company has increased prices of structure and rounds by INR 500-1000/MT, at the beginning of the June month.
As per the market participants, the company has limited availability of stocks (structure and rounds products) and at present, there is a good demand for these products in the market.
However, the company has not yet hiked the prices of rebar and wire rod on account of high inventory in the same month.
Presently, RINL is offering 12-25MM rebar at around INR 46,000/MT (GST 18% extra) in Delhi which is higher than other larger steel producers. Other large rebar producers are offering at INR 44,500-45,500/MT for the same location.
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