India – Finish Long Steel Demand Remain Sluggish Over Falling Prices

Indian Finish long steel – Rebar observed thin trades amid filtered inquiries and low trade volumes as price range declined by INR 200-500/MT (USD 3-7.5) on day basis.

Declining price range by medium scale producers over limited response by market participants & also due to price fall by large scale producers in rebars by around INR 500-1,000/MT (USD 7-15) for the July’18 deliveries.

Further, the market sources mentioned that, thin spot trades has increased selling pressure with the manufacturers based in Central, East & Western India.

Trade Updates

1. Rathi Steels, known as price trend setter for Northern region having monthly production capacity 150,000 MT has decreased prices by around INR 250/MT and offered 12 mm at INR 42,100/MT ex-Delhi. The company largely sells finished steel to North-east regions.

2. Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT having monthly production capacity around 12,000 MT has decreased rebar prices by around INR 400/MT & current offering at INR 46,600/MT FoR & including GST, Size – 20 mm.

3. Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their prices by around INR 500/MT on day basis & current offering basic rebar at INR 36,000/MT, ex-work & excluding GST.

4. West India based Bhagwati Ferro Metal (P) Ltd having monthly production capacity around 20,000 MT decreased their price by around INR 200/MT on day basis & current basic Rebar offering at INR 38,000/MT and Billet around INR 33,500-33,600/MT for Mumbai, Ex-work & excluding GST.

5. Central region, Raipur based brand “SPEED TMT” known as price settler for other brands decreased their prices by around INR 500/MT on day basis & current offering basic rebar at 36,200/MT (size – 28 mm), ex-work & excluding GST. As per Co. associates selling pressure is limited as of now but current scenario might get amended if supply chain doesn’t improve.

6. East Region Based – Baba Smelter Pvt. Ltd has offered basic Structure 150 Channel at INR 40,250/MT, ex-work & excluding GST.

7. Chennai based manufacturer Kamachi Industries Ltd having monthly production around 40,000 MT branding as KAMACHI TMT offering 12 mm rebar at INR 41,500/MT, prices unchanged on day basis, ex-plant & excluding GST.