Primary Producers reduces Rebar prices by INR 500-1,000/MT for Oct’14

The demand is sluggish from previous two months and primary producers are still reducing Rebar prices in a range of INR 500-1,000/MT.

All primary producers have slashed Rebar prices this month, as there’s low demand from the construction activity and the inventory levels are still high. In addition there is a continuous import of cheap Rebar, which is hurting the market adding pressure on the prices.

As per the company sources, SAIL & JSPL have declared to reduce Rebar prices by INR 500/MT and JSW Steel has cut the prices in a range of INR 500-1,000/MT. RINL officials confirmed price deduction by INR 600-750/MT across various sizes and Tata Steel by INR 1,000/MT.

Monnet officials confirm that they’re quoting at INR 36,000/MT basic price, for 12mm (Excise and VAT extra).

During September-end, international Coking coal prices are slightly lowered because of less buying interest from international market.

Primary Rebar (12 mm) Offers for Oct’14

Note: Excise included, VAT extra