Secondary Re-bar offers are declining day by day owing to slow offtake, high inventory and price hike in advance. However, primary manufacturers have raised their Re-bar offers for the current month.
Repeatedly, hike in primary offers did not seem as a support for slumping secondary market. Secondary Re-bar manufacturers are compelled to sell in lower prices with fall in raw material rates. MS Ingot & Re-bar offers fell down by INR 400-800/MT across the country.
Central Region: Raipur based a TMT manufacturer said, “TMT demand is dull in city till we have not cut the production. But, it seems that to get rid of over stock, we have to cut the production very soon.”
Southern Region: Bangalore based a trader commented, “TMT sale is very poor in Bangalore. Market seems to decline more by INR 400-500/MT in near future.”
Western Region: A native trader of Gujarat said, “Offers declined by INR 400-500/MT in a couple of days. Offers may come down by INR 1,000/MT in 1-2 weeks.”
Eastern Region: Major correction in prices has been seen in Durgapur, where MS Ingot & TMT offers have slashed by INR 1,500/MT W-o-W.
Northern Region: In contrary, TMT offers witnessed a prices hike of INR 400/MT in a week’s time owing to poor power supply in UP.
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