Indian Finish Long Steel – Rebar market has absorbed thin buying inquiries and thus prices registered slight down trend in particular regions. As per SteelMint assessment, Indian medium/small mills have reduced Rebar prices by INR 200-300/MT and around (USD 3-5) in last couple of days location wise.
In current scenario the producers based in North-east & West India are also floating minor discount of INR 100-300/MT to prevent piling inventories & making offers more lucrative to get the conclusion.
Further with market sources SteelMint learned that existing poor demand may result short term price corrections as spot trade volume is thin and somewhere the market trends played key role among the trade participants to act consciousness mode & made bookings as per necessity.
According to SteelMint price assessment, today the offers by medium mills for 500 Fe grade rebars (size 12-25 mm) are reported – at INR 39,200-39,400/MT (0) ex-Raipur, INR 39,800-40,000/MT (-300) ex-Durgapur, INR 40,500-40,600/MT(-200) ex-Mumbai, INR 39,500-39,700/MT(0) ex-Hyderabad, INR 39,700-39,800/MT (0) ex- Ahmedabad, INR 40,900-41,100/MT (0) ex-Jalna & INR 40,800-41,000/MT (0) in Delhi. The changes mentioned above are day-on-day basis.
Trade Updates
1. Real Ispat & Power offers Rebar (GK TMT) has unchanged their prices d-o-d basis & current offering rebar (10-25 mm) at INR 41,400/MT ex-plant, Raipur. According to the officials demand is slightly low from last couple of days at these offer prices.
2. Jalna based rebar manufacturer – Rajuri Steel Pvt Ltd (Rajuri TMT) offering basic rebar at INR 38,600/MT, ex-work, & excluding GST. As per official view demand doesn’t exist in past week but slightly improved from yesterday.
3. Rathi Steels, known as price trend setter for Northern India has increased their price by around INR 200/MT and currently offered 12 mm at INR 42,000/MT, ex-Delhi. The company largely sells finished steel to North-east regions.
4. Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT offering basic rebar at INR 38,600/MT, ex-work & excluding GST.
5. Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has offered basic rebar at INR 48,000/MT FoR & including GST at 18%, Size – 20 mm & Billet at INR 36,500/MT, Ex-Work & excluding GST. As per official view Finish sale is weak & very limited work get concluded.
6. Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 42,500/MT and mentioned Billet purchase price idea INR 36,500-37,000/MT, ex-plant & excluding GST. As per official view demand is sluggish & further as per market sources price level needs to amend as per market requirement.
7. East Region Based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 40,300/MT, ex-work, excluding GST.
Leave a Reply