Indian Manufacturers have to increase the price of Re-bar by INR 200-500 per MT in last 2-3 days owing to the hike in prices of Semi Finish product.
In Central India, Re-bar prices have moved up by INR 200-300 per MT from yesterday owing to shortage of Ingot and Sponge. In addition, there is some demand in Raipur and Raigarh from MP. In Raipur and Indore 20 mm Re-bar is traded at INR 30,500 per MT and at INR 35,100 per MT respectively.
In Maharashtra, Mumbai based Shree Vaishnav Industries Private Limited, with a Re-bar production capacity of approx 18,000 MT per month has increased its Re-bar price by INR 400 per MT in last 2-3 days. 20 mm Re-bar is now offered at 34,100 per MT.
“The demand for finish product after Diwali was good, but right now we have a normal demand for the product. It seems that steel market will either sustain or go up”, said a Re-bar trader based at Mumbai.
Few days back, in Hyderabad, a spurt of INR 200-300 per MT was seen in TMT and Ingot due to little increment in local demand. Presently 20 mm Re-bar is quoted around at INR 31,700-32,000 per MT.
Market participants are of the view that there are fewer chances of rates to decrease, many plants have shut down while some are running at very low production capacity, creating product shortage across the cities.
Note: All prices are Basic.
| Region | Particular | Price (Basic) | Price#(All Tax) | Change | W-O-W | M-O-M |
| Indian 12 mm Re-bar prices (in INR/MT) as on date 19-Nov-2013 | ||||||||
| North India | Ghaziabad | 32,800 | 38,700 | 0 | + 400 | – 700 | ||
| Mandi Gobindgarh | 35,250 | 41,600 | 0 | + 150 | NA | |||
| Delhi/NCR | 33,000 | 38,900 | 0 | + 400 | – 700 | |||
| Muzaffarnagar | 32,400 | 38,200 | 0 | + 400 | – 700 | |||
| East India | Rourkela | 30,300 | 35,700 | 0 | – 100 | – 900 | ||
| Durgapur | 30,900 | 36,200 | + 200 | + 200 | – 350 | |||
| Central India | Raipur* | 31,100 | 36,000 | 0 | + 450 | – 500 | ||
| Indore | 35,500 | 41,900 | + 300 | + 600 | – 150 | |||
| Raigarh | 30,000 | 35,400 | 0 | 0 | – 600 | |||
| West India | Jalna | 34,100 | 40,200 | + 100 | 0 | + 200 | ||
| Mumbai | 34,100 | 40,200 | + 200 | + 100 | + 600 | |||
| Ahmedabad | 33,000 | 38,900 | – 100 | 0 | – 700 | |||
| Goa | 34,900 | 41,200 | + 300 | + 100 | – 200 | |||
| Jaipur | 32,900 | 38,800 | 0 | + 250 | – 900 | |||
| South India | Chennai | 33,400 | 39,400 | 0 | 0 | – 400 | ||
| Hyderabad | 32,850 | 38,800 | 0 | + 650 | + 350 | |||
| Bangalore | 34,400 | 40,600 | 0 | – 400 | 0 | |||
Daily Assessment
Grade-415/500 Fe
Excise Duty @ 12.36%; VAT as applicable.
*Payment next day
# Prices including all taxes
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