Indian Secondary Rebar market doesn’t observed improve demand across the regions and in consideration of limited demand, price range has fallen by around INR 500-600/MT (USD 7-9/MT) in a week duration.
Particular locations of Northern region reported slight development in price range by around INR 300/MT in a week duration amid healthy trade discounts given by re-rollers & this led to prevent stock.
Central region markets observed selling pressure up to measured level amid healthy inventories and considerable selling pressure in raw material (Sponge) on excess supply.
Western region like – Gujarat seems average finish steel demand and price fluctuation noticed due to sufficient raw material(Scrap) availability as one of the large billet producer in mid range have reduced productions by 60-70%. Meanwhile in Maharashtra seems no any major changes in near term apart from daily changes.
Southern region market (Chennai), the mills have adjusted production level as per market demand & suffice stock level heard to be notified on renowned mills and falling melting scrap may ease price pressure on finish steels in same proportion with upcoming festival.
Trade Updates (Rebar 12 mm)
— North region based Rathi Steels current offering at INR 38,600/MT.
— Central region, Raipur based – SPEED TMT decreases their prices by INR 300/MT and offering at INR 35,000/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT slightly fall by INR 200/MT on day basis and offering at INR 38,300/MT FoR.
— Gujarat based Akshar Ispat Ltd (Akshar TMT) current offering at INR 38,300/MT FoR.
— Jalna based Rajuri Steel Pvt Ltd has unchanged their price & offering at INR 36,800/MT.
— Mahalaxmi TMT based in Wardha – Maharashtra assessed down by INR 200/MT on day basis and offered at INR 35,400/MT.
— South region – Chennai based ARS (500 D) unchanged their offering at INR 40,500/MT.
Note – the prices mentioned above are ex-work, excluding GST & changes are on day basis.
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