In most cities of India, re-bar prices corrected further by Rs 200-500/t as trading activities remain limited. In contrary Mumbai Re-bar prices surge up by Rs 300/t as demand from end user directly witness to the manufacturer; over retailer and stockiest strike on LBT issue.
In Raipur 12mm re-bar prices offer at Rs 32,000/t marginally down by Rs 100/t from yesterday trade but it’s being heard small manufacturer are also selling at Rs 31800-32,000/t. In similar line Muzaffarnagar region 12mm price quoting at Rs 33,800/t but trade is at Rs 33500-800/t.
South market witnesses a major downfall of Rs 500/t as Chennai offer 12MM stand at Rs 40,000-40,200+VAT. Other major market prices are stable but trade activity is very limited.
MS Ingot and Billet prices are also down by Rs 300/t from yesterday trade over high production and low demand. Sponge iron price continue to remain under pressure as Ingot manufacturer cut production, high power charges and increased availability of sponge pellets in the central region.
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