India’s primary steel mills raised rebar prices by 500-750/mt ($7-11/mt) for the second time in December due to increase in input costs, a revival in domestic steel demand and uptick in global steel prices.

 

Domestic primary mills including JSW Steel, Vizag steel and SAIL increased prices of rebar product by Rs500-750/mt to Rs36,000-36,500/mt ex-works Mumbai. The new prices will be applicable on immediate basis. 

 

Early this month, mills across India raised rebar prices by Rs1,000/mt. In India, construction activities gain momentum in the December to March period and spur demand for steel products. 

 

JSW Steel production fall

Davis heard that in Mumbai, there is a shortage of JSW’s rebars. JSW Steel’s long steel production declined by 14pc to 2.99mn mt in November from prior year. 

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