India’s medium scale producers have maintained the same price range with slight corrections on day basis and inventory levels have lowered since couple of days, SteelMint learned from the mill owners.
In terms of stock levels, it’s being maintained slightly below to average level in key supplying markets i.e. – Raipur, Raigarh & Jalna and demand persists on average basis in most of the regions amid regular trade volumes.
While central region participants have further mentioned that positive outlook will continue till power cuts in Raigarh persists which leads to critical situation in supply as it’s being one of the major supplying market to northern region. However amid upcoming elections, trades may remain dull.
Further, western region (Jalna) based manufacturers have stated that price range might fluctuate on certain level but stock level doesn’t get impacted as usual basis and market participants are expecting positive trend in current week. Meanwhile prices are being expected to remain range bound in coming days.
Trade Updates (Rebar 12 mm)
— North region based Rathi Steels current offering at around INR 39,750/MT, Ex-Delhi.
— Central region, Raipur based – SPEED TMT unchanged their prices at INR 36,300/MT.
— MP, Indore based Jaideep Ispat & Alloys Pvt. Ltd. – (Moira TMT) unchanged their offers at INR 37,000/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) current offering at around INR 39,200/MT FoR.
— Jalna based Rajuri Steel Pvt Ltd (Rajuri TMT) is being offered at INR 37,900/MT.
— Chennai based ARS Steel (ARS 500 D) unchanged their offers at INR 40,400/MT.
— East region based – Shakambhari Ispat & Power Ltd has offered Rebars at INR 37,800/MT & Wire Rod 5.5 mm at INR 38,000/MT, ex-work, excluding GST.
Note – Prices mentioned above are ex-work, excluding GST & changes are day basis.
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