Poor demand and lesser trading activities affect Re-bar market

Long Steel demand remains moderate all over India showing no improvement.

Lesser trading activities and fall in raw material prices in Chennai has made offers to come down by INR 500/MT in last two days. 12mm Re-bar offers in Chennai at present stands at INR 40,400/MT (Including ED).

In line, Re-bar prices at Raipur and Hyderabad also registered a fall of INR 200-500/MT to INR 31,000-300/MT and INR 31,200-500/MT (20MM Basic Price).

Re-bar prices at Rourkela are being quoted at the same level from last trade but a slowdown in demand has been observed in the city.

Also in the North and West part of the country; like Muzaffarnagar and Mumbai the prices dropped by INR 100/MT. At present 12mm Re-bar offers from Muzaffarnagar and Mumbai stand at INR 34,000/MT and INR 35,200/MT respectively. (Basic Price)