Rebar demand with secondary (medium scale) mills was reported to be dull amid liquidity crunch observed in major supplying regions, hence this led to price reduction of more than INR 1,000/MT (USD 14) in a week’s duration.
As SteelMint learned from sources, rebar prices might come down as considerable selling pressure exists due to sufficient stock levels with the mills. The same prevailing sentiments have assumed by market participants in major supply regions.
As per them, slow buying persists in regions i.e. MP/UP/Bihar amid ongoing polls which is being considered as major regular buying locations due to limited rolling capacities or limited production and thus major producing regions – Raipur/Jalna/Raigarh/Durgapur has negatively affected in terms of rebar price range and sales volume.
Trade Updates (Rebar 12mm)
— North region based Rathi Steels current offering at around INR 38,500/MT.
— Central region, Raipur based – SPEED TMT has unchanged their prices at INR 35,500/MT.
— Real Ispat (GK TMT) is offering at INR 37,800/MT (down by INR 200/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,500/MT (down by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om TMT) has unchanged their prices at INR 36,800/MT.
— Jalna based Rajuri Steel Pvt Ltd (Rajuri TMT) has maintained their offers at INR 36,700/MT (down by INR 200/MT).
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) is offering at INR 36,600/MT (down by INR 300/MT).
— South region based Tulsyan NEC Steel (Tulsyan TMT) is offering at INR 38,200/MT.
Note – the prices mentioned above are ex-work, excluding GST & changes are placed on day basis & prices are subject to re-confirmation.
Leave a Reply