The Steel Authority of India Limited’s (Sail) Bhilai unit produced 47,015mt of various sections of rebar grades till March 23, breaking its earlier monthly production record of 45,608mt achieved in January from its Modex unit bar and rod mill.
This information was tweeted by the company. Sail has achieved this production record before the completion of the month.
The company has also recorded highest hot metal production of 19,105mt on March 24 in Bhilai unit.
Primary mills’ rebar prices are in the range of Rs48,000-48,500/mt del Mumbai mills in projects segments. Few traders are expecting mills to raise rebar prices by around Rs1,000/mt in early April.
The state-owned company believes that as construction, infrastructure activities and manufacturing sectors pick up pace, steel Industry will see improvement.
However, the company might find it difficult to achieve its targeted sales volumes which is expected to dip in FY21 compared to prior year despite improved market condition in the second half of the fiscal year.
Sail is enhancing production in all its units and exporting surplus material. Recently, the company’s Bokaro unit in Jharkhand dispatched the first HRC consignment to Italy.