Cashing in on signs of marginal increase in demand, Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant increased the prices of various products by around Rs.500 per tonne.

The increase came into effect from Tuesday. While the price of rounds and wire rod per tonne went up respectively from Rs. 48,650 and Rs.44,950 by Rs.500, the cost of most popular TMT rebar increased from Rs.45,550 to Rs.46,000 in Visakhapatnam market, according to informed sources. The prices will vary in other cities depending on distance due to transportation cost.

RINL’s sales turnover of over Rs.1,085 crore in just-concluded November was a growth by five per cent. Iron and steel sales volume registered a growth of six per cent. Pig iron sales volume also registered a growth of 48 per cent.

By-product sale of Rs.364 crore registered a growth 13 per cent. Thrust was laid on higher sales through RINL’s rural network which saw a growth of 59 per cent during the month.

On the production front crude steel recorded a growth of three per cent supported by a growth in production of hot metal and saleable steel.

The production which was getting affected due to scarcity of power supply from the State Government is now likely to improve. RINL’s captive generation has also picked up with more availability of thermal coal from Coal India Ltd.