Vizag Steel Plant (VSP) also known as RINL has further increased Semis & long steel prices by INR 500-1,000/MT (USD 8-15) w.e.f. 18th Jan 2018. According to market source report to SteelMInt, the company has raised prices in line with high raw material cost and healthy export orders.
Vizag steel is a state owned producer with an annual capacity of around 6.3 MnT crude steel. Company is also the largest long steel producer in India.
The company had already hike prices couple of times in Jan’18 by INR 2,000/MT (USD 31) & INR 1,000/MT (USD 15), respectively. As per anticipation it has assumed that producer has kept lower prices against their antagonist and suppose to get elongate price range in coming days.
The latest price hike assessed for Wire Rod by INR 750/MT, Structure by INR 1,000/MT, Re-bars by INR 1,000/MT, Billet by INR 500/MT & Pig Iron by INR 500/MT, as per the company’s price circular w.e.f. 18th Jan 2018.
The revised offers are as follow –
1. Wire rod (5.5mm, HC 50 – HC 85) at INR 44,550/MT,
2. Rebar (8mm IS1786 Fe500D) at INR 43,330/MT.
3. Billet (125×125 mm IS 2830) at INR 35,210/MT.
4. Pig iron (LSB) at INR 26,000/MT.
5. Channel (200×75 mm, IS 2062 Gr. A) at INR 39,280/MT.
Prices are excluding 18% GST & ex-plant, Vizag.
— Vizag Steel has issued a tender for export of 10,000 MT billet, 20,000 MT Blooms, 10,000 MT Rounds, 3,000 MT Angles and 2,000 MT Beams. The last date for bid submission is 23 Jan’18.
— Vizag Steel had concluded couple of export deal of billet and wire rod through tender process in the month of December for which deliveries are still on pipeline.
— In last week, the other large producers like – JSW, JSPL,SAIL & TATA Steel have raised steel prices by around INR 700-1,500/MT (USD 11-23).
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