Rebar prices through the mid size mills have increased by around INR 600-800/MT on weekly basis amid healthy trade volumes. As per participants, with the end of assembly elections in major states, demand from the stockiest & end user segment resumed.
The medium scale manufacturers have sold considerable volume and discount range reduced on better demand and it’s been notified that excess supply has now measured with the future bookings by retail segment.
As per industry experts, Rebar market may not see further surge in prices and are expected to find stability or come down slightly. Meanwhile stock levels isn’t a consideration in most of the regions as production was already learned to be achieved at levels of approximately 70-80%.
Trade Updates
— North region based Rathi Steels current offering at INR 39,350/MT.
— Central region, Raipur based – SPEED TMT unchanged their offering at INR 36,000/MT.
— Gujarat based, Rudra brand unchanged their offering at around INR 39,200/MT FoR.
— Jalna based Rajuri Steel Pvt Ltd has unchanged their price & offering at INR 37,700/MT.
— South India based – VRKP Steel (VRKP tmt) offering at INR 38,200/MT.
— South region – Chennai based ARS Trusteel unchanged their offering at INR 40,000/MT.
— South region based Pulkit Steel (Pulkit TMT) offered at INR 38,000/MT.
— As per sources, Vizag Steel (RINL) increases discount/incentives in rebar by upto INR 700/MT for specific location w.e.f. 17 December.
— The price range through the large mills hovering at INR 40,500-41,000/MT ex-Mumbai.
— India’s Finish long steel (Rebar, Wire rod & Structure) imports fall sharply by 24% M-o-M in Nov’18 and stood at 21,776 MT as against Oct’18 at 28,671 MT.
Note – Rebar (12 mm) prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
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