Indian large steel mills have raised construction grade re-bar prices by INR 500-1000/MT (USD 7-14) on falling inventories according to SteelMint’s recent survey.
Current prices for 12-32 mm re-bar stands at around INR 35,000-35,500/MT against INR 34,500/MT last month on Ex Delhi basis.
Re-bar Inventories fall by 100,000 MT in Nov on re-stocking from traders and improved demand from government projects. Re-bar Inventories have dropped from 600,000 MT levels to 500,000 MT levels, according to SteelMint’s assessment.
Top five mills (RINL , JSW, JSPL , SAIL, Tata) produced around 13.503 MnT bar & rod in FY19 which is about 35.62 % of India’s total bar & rod production. India produced 37.912 bar & rod in FY 19. Figure mentioned is Production for sale
Mid sized mills using induction route have also observed a price hike by around INR 400-500/MT in Nov’19 against Oct’19 considering monthly average and current rebar prices stand at INR 31,700-32,000/MT (size 12-32 mm) Ex-Delhi.
| Medium Size Mills | Large Mills | |||
| Delhi | Mumbai | Delhi | Mumbai | |
| Oct’19 | 32,200 | 31,100 | 34,300 | 34,300 |
| Nov’19 | 32,600 | 31,500 | 34,600 | 34,800 |
Monthly Average Prices in INR/MT,
Source – SteelMint Research
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