Indian Rebar Market Observed Slowdown Trades

Domestic Rebar prices has registered volatility due to subdued trade activities and led to narrow price range.

Market sources commented that, to prevent muted situation a slight discount has been placed to improve supply chain but by far only limited bookings got registered.

The mill owners in Central, West & South India who’s production for rebars is about 200-500 MT per day also stated slow demand at prevailing offers.

According to SteelMint price assessment, today the offers by medium mills for 415/500 Fe grade rebars (size 12 mm) are reported – at INR 37,300-37,500/MT (-100) ex-Raipur, INR 38,000-38,200/MT (0) ex-Durgapur, INR 37,900-38,000/MT(-300) ex-Mumbai, INR 40,250-40,500/MT(0) ex-Hyderabad, INR 38,200-38,300/MT (-300) ex- Ahmedabad, INR 38,100-38,300/MT (-500) ex-Jalna & INR 38,800-39,000/MT (0) in Delhi. The changes mentioned above are day-on-day basis.

Trade Updates

1. Jalna based Kalika Steels reduced their prices today by around INR 500/MT over low inquiries and current basic rebars at INR 35,700/MT. As per official’s conversation, minor correction has been required from last mid week to improve supply movement.

2. Mahalaxmi TMT based in Wardha – Maharashtra unchanged rebar prices day-on-day basis and the latest offers for the day for 12 mm are reported at INR 35,500/MT ex-plant and excluding GST.

3. Tulsyan NEC Steel (Tulsyan) based in Chennai has kept the same prices and offered Rebar 12mm at INR 42,000/MT, ex-plant & excluding GST.

4. North Region based Rathi Steels, has unchanged prices today and offered 12 mm at INR 40,600/MT ex-work and excluding GST. The company price range being usually followed by other steel manufacturers in North-east regions.

5. South Region based Pulkit Steel (Pulkit TMT) in Chennai has offered Rebars 12 MM at INR 42,000-42,500/MT, ex-plant & excluding GST.

6. South India – Chennai based ARS Trusteel has monthly production capacity around 12,000 to 15,000 MT of Rebars & Billet each, reported unchanged their prices against last day trades. The current offers for Rebar 12 MM at INR 43,500/MT & Billet at INR 36,000/MT ex-plant & excluding GST.

7. Real Ispat & Power offers Rebar (GK TMT) 12-25 mm at INR 39,500/MT ex-plant, Raipur. According to the officials supply movement is slightly lacking to appropriate manner and minor correction may develop the market sentiments.