Prices in Indian secondary market gained slightly even though this is festive mood due to Pongal/Makar Sankranti in major locations and trade volume has been registered on average basis as per assessment.
Medium range rebar producers have stated that average movement is happening and not assuming selling pressure in near term due to maintained stock level which is notified in most of the regions as price range increased by around INR 300-500/MT, W-o-W.
Whereas particular locations (North & Central) seems to be measured demand and minor corrections may noticed, as per current scenario.
Further, one of trader based in northern region shared that demand is little bit slow from last couple of days and increasing stock level might led to better discounts for near term.
As per sources, medium range manufacturers are eyeing to scale up their production capacities across regions whether it’s associated with franchise base or introduce new brands in potential regions where Industrialist can see to ease procure of raw material within range limit but the fact remains on the same position as location wise only number of mills are running on full capacities due to volatility in domestic market.
Trade Updates – Rebar (12 mm)
— North region based Rathi Steels unchanged their prices at INR 38,500/MT.
— Central region, Raipur based – SPEED TMT slightly decreases their prices by INR 300/MT to INR 34,900/MT.
— Central region (Raipur) based Kamdhenu TMT offering at INR 37,200/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT unchanged their prices at INR 38,600/MT FoR.
— Gujarat based, Mono Steel (India) Ltd. (Mono TMT) unchanged their offers at INR 38,000/MT FoR.
— Jalna based Rajuri Steel Pvt Ltd (Rajuri TMT) has unchanged their prices at INR 36,300/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd branding as Polaad TMT offering at INR 36,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are day basis.
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