Indian Finish Long Steel – Rebar trade volume has risen considerably in the last couple of days. Availability of rebar remained low during last week thus affecting trade volumes to a great extent, SteelMint learnt from trade participants.
Further, few industrialist have also stated that the elongated price range have been sustained due to rise in inquiries and higher billet prices over power crisis in major markets specifically in Central & Eastern India.
According to SteelMint price assessment, today the offers by medium mills for 415/500 Fe grade rebars (size 12 mm) are reported – at INR 39,200-39,400/MT (+300) ex-Raipur, INR 40,000-40,200/MT (+400) ex-Durgapur, INR 39,800-39,900/MT(+300) ex-Mumbai, INR 41,000-41,200/MT(0) ex-Hyderabad, INR 39,100-39,300/MT (+300) ex- Ahmedabad, INR 39,700-39,900/MT (+300) ex-Jalna & INR 40,900-41,100/MT (0) in Delhi. The changes mentioned above are day-on-day basis.
Trade Updates
1. Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at around INR 42,000/MT, Billet – 37,000/MT, ex-plant & excluding GST. As per official view market demand is average & shouldn’t be hovering for long term.
2. Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 41,000/MT (12 mm) & Billet at INR 36,500/MT, ex-work & excluding GST.
3. Jalna based Kalika Steels increased their prices by around INR 200/MT over better inquiries from last couple of days and current basic rebars at INR 37,400/MT. As per official’s conversation, buying inquiries were dull in last week but procurement has to move upon low inventories among retail/trade participants.
4. Jalna based rebar manufacturer – Rajuri Steel Pvt Ltd has increased prices INR 200/MT and offering basic rebar at INR 37,400/MT, ex-work & excluding GST. As per official view existing price range should sustain for near term upon improved demand.
5. West region- Maharashtra based – Vistar TMT (earlier known as Vaishnav TMT) has offered basic Rebar at INR 39,700/MT (12 MM), ex-works, Wada & excluding GST.
6. South India based – VRKP Steel (VRKP tmt) offering rebars 8 mm at INR 52,000/MT ex-work & including GST.
7. Gujarat based Akshar Ispat Ltd branding as Akshat TMT has increased their offers by around INR 500/MT today & offering rebars at around INR 47,500/MT FoR & including GST at 18%, Size – 20 mm. As per officials view finish long having slow demand and price range increased amid raw material extant prices.
Leave a Reply