Tata Tiscon recently reduced prices for TMT in the domestic market all over the country. The rebar prices got reduced by almost Rs 750/MT across its depot in the retail sales for the month of July, 2013. The price reduction of TMT is for the second time in the last few months. In June, prices were reduced in the range of Rs 700-1,000/MT. In Mumbai, offer for 8 mm TMT was at Rs 53,400/MT in June, 2013, whereas, in July it is at Rs 52,500/MT owing to the price reductions.
According to the Joint Plant Committee (JPC), Tata Steel, one of the largest steel makers of the country, had produced a total of over 1.6 MnT of rebar and rods in FY 13.
According to sources, the primary manufacturers have reduced their prices in order to boost up the sales and increase demand for the product in the market. The demand for TMT was low since past few months consistently and with the arrival of monsoon the demand became even lower, thus forcing the manufacturers to reduce its price.
About Tata Tiscon
Tata TISCON is a rebar brand from Tata Steel, located in Jamshedpur. It is one of the largest steel companies in the private sector of India. Worldwide, it holds the sixth position among the largest steelmakers. It is the first ever company of India to introduce Thermo Mechanically Treated (TMT) rebars in the country. Since its commencement, it has been steadily and consistently giving its best efforts in organizing and developing the disorganized rebar market of India.