Indian Primary Rebar Producers reduce offers by INR 1,000-1,500/MT

Most of the Primary Rebar producers in India are offering the material at INR 1,000-1,500/MT lower owing to consistently poor demand.

Primary Rebar producers have been reducing their prices since Sep’14; have come down by around INR 4,000-5,000/MT. The price decline is because of low buying interest in the domestic market along with off-take hampered due to imported Rebar dumped in the Indian market.

Prices of primary makers have reduced in the form of discount but dealers’ price list and MRP remain unchanged.

RINL, which is one of the largest long steel producers, has reduced its offers by INR 1,500-2,000/MT in Dec’14 compared to the last month. Besides, it is also offering a discount of INR 500/MT, as per sources.

A distributor based in Bangalore said, “JSW Steel has also reduced its Rebar offers for the current month owing to low off-take in the market but not official declared and there is still room for further price correction in the coming month.”

Tata Steel dealer in Mumbai also said that Rebar prices have fallen there by INR 1,000/MT owing to slow buying in the market.

Trade sources also confirmed that SAIL and JSPL are also offering discount of INR 700-1,500/MT but no announcement of price cut has been made so far.

Primary Rebar (12 mm) offers for Dec’14

Note: Excise included, VAT extra
All are dealer/ distributor prices