Secondary Rebar offers up by INR 300-500/MT in Western & Central India

Trade activities have slightly increased in western & central India but remain dull in southern region.

A better demand is seen in the secondary Rebar markets like Mumbai and Raipur as compared to last week. Improved buying sentiment from consumer-side has raised offers in Mumbai by INR 300/MT W-o-W to INR 33,300/MT. However in Jalna, it sustain at the current level of INR 33,300/MT.

As per a Rebar manufacturer based in western region, “Trade seems to be better but many Billet mills are still running at 50% capacity level. However, there is an expectation of rise in production level in the coming days, which may increase selling pressure.

Rebar offers in Central India have also increased by upto INR 500/MT W-o-W owing to rising demand from the neighboring states like Maharashtra & MP. At present, Raipur and Indore are offering the material at INR 32,300/MT and INR 35,800/MT respectively that’s maintaining a price gap of INR 3,500/MT excluding freight.

A Rebar manufacturer based in Indore said, “After a long time, selling has improved but volume is still low against earlier month.”

In Hyderabad, Rebar prices are not supportive owing to weak demand and so it is being offered at INR 32,500/MT.

According to a Rebar manufacturer based in Vijayawada, “Currently, construction activities are very low amid non-availability of sand, which has increased sand prices by over 50% in southern region. This in turn is affecting the whole infrastructure sector and lowered Rebar demand.”

Note: All prices are of 12 mm Rebar with excise & VAT extra.

Ingot and Rebar Weekly Price Change 

Basic price in INR/MT as on 27 Nov’14