In a day trade activities the rebar prices of mid size mills more or less firm in East & Southern regions. Meanwhile slight rise observed in Central, West & Northern India.
As per producers, the inquiries slightly improved today followed by rise in Semis prices. This has supported rebar price range in major markets.
On 8th Jan’19, the prices have been shrunk to bottom level after five months framework which was registered on Jul’17 end i:e; INR 35,600-35,700/MT (Maharashtra – Jalna & Mumbai) & INR 34,200-34,400/MT (Chattisgarh – Raipur & Raigarh) in comparison to existing range after considering discount levels.
The participants in Central region shared that; prices may get slight volatile in present range. Although further reduction in offers will urge industrialist to maintain conversion spread as it dipped to INR 3,500-3,700/MT against the average required of INR 4,000/MT for standalone mills.
Further, the Western region participants stated, market less likely to fall on immediate term as prices bottomed out and healthy trade volume has been concluded, this has resulted surge in Billet & Rebar prices by around INR 300-400/MT day-on-day.
Trade Updates – Rebar (12 mm)
— North region based Rathi Steels current offering at INR 38,000/MT.
— Central region, Raipur based – SPEED TMT slightly increase their prices by INR 200/MT and offering at INR 35,000/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT unchanged their prices and offering at INR 38,200/MT FoR.
— Jalna based Kalika Steels unchanged their offering at INR 36,300/MT. As per a official, rebar productions to increase in coming months by 12,000-13,000 MT, than the total capacity would be 42,000-43,000 MT monthly.
— Mahalaxmi TMT based in Wardha – Maharashtra, unchanged their offering at INR 35,200/MT. As per a official, last month productions was increased to 36,000 MT and by March’19 it would be 40,000 MT and in coming 6-7 months the mills operation will be full-fledged i:e; 45,000 MT.
— South region – Chennai based ARS Steel branding as ARS (500 D) unchanged their offering at INR 40,500/MT.
— South region based Tulsyan NEC Steel (Tulsyan TMT) offering at INR 38,000/MT.
Note – the prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
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