Re-bar prices enhanced up to 4-7% in southern region on account of improved demand and low production.
Andhra Pradesh: In Hyderabad Re-bar prices boost up by INR 1,500/MT in a month time. Re-bar manufacturers are receiving good demand from Karnataka and other nearby states. Hyderabad offer to Bangalore 8mm Re-bar at INR 42,500/MT (landed cost). Whereas in local market 8mm Re-bar is offer at around INR 41,300/MT (Inclusive of VAT).
Tamil Nadu: In similar line, Chennai is also supplying Re-bars to Karnataka and Kerala. Today its offer increases up to INR 500/MT from yesterday trade due to increasing cost of MS Ingot (prices enhanced by INR 1,300/MT M-o-M). 8mm Re-bar offers are at around at INR 42,400/MT (Inclusive of VAT) respectively.
According to a Re-bar manufacturer based at Chennai, “We were keeping same prices from a long time as demand was not encouraging. But from last few days we do have demand from Kerala and Karnataka. We are increasing offers on regular basis by INR 500/MT.”
Karnataka: In Karnataka Re-bar prices have increased about INR 2,500/MT on M-o-M basis as construction activity increased in the city by domestic house construction.
“At present construction activity in Bangalore is quite good however 2-3 mills have shut down their operation due to economic crisis earlier. Therefore low production and sudden demand prices have increased.” said a Re-bar trader based in the city.
8mm Re-bar is offering at around INR 44,000/MT (Inclusive of VAT), many are purchasing Re-bar from Hyderabad and Chennai too, he further added.
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