Rebar prices in Sponge based markets like Raipur and Durgapur have declined by INR 700-1,000/MT. Whereas, in western India, which is a Scrap based market, prices have risen sharply by INR 500/MT W-o-W.
After an uptick in Rebar prices during the first two weeks of the current month, prices this week fell by over INR 700-1,000/MT in Eastern & Central India. In contrary, prices in Mumbai & Jalna have gone up by INR 500/MT, which has built positive sentiments since booking of Chinese material is now on hold.
Rebar in Mumbai is being offered at *INR 34,300/MT; up by INR 500/MT W-o-W owing to high imported Scrap offers, which is due to depreciating Indian currency. However, according to market participants, prices are unlikely to sustain at these levels as demand is shaky.
Currently, Rebar in Raipur is being offered at INR 31,500/MT; down by INR 1,000/MT. While, in Durgapur, it is offered at INR 31,800/MT; down by INR 700/MT on the grounds of weak demand and oversupply of MS Ingot/Billet.
Viability improves from Central to Western and Southern India
Currently, viability from Raipur to other states like Maharashtra, MP, Gujarat & Karnataka has improved owing to lower prices.The present price gap between Raipur & Mumbai is around INR 2,000-2,500/MT. While, it is around INR 3,000/MT between Raipur & Bangalore.
A Raipur based manufacturer stated, “Rebar prices hit rock bottom owing to poor demand and it remains under pressure for short-term. However, we see better viability in all parts of Vidarbha region (CG and MH border).”
12 mm Rebar & Ingot Weekly Price Change
| Region | City | Ingot Price | W-o-W | Rebar Price | W-o-W |
| Central | Raipur | 27,500 | -800 | 31,500 | -1,000 |
| Eastern | Durgapur | 28,700 | -800 | 31,800 | -700 |
| Western | Ahmedabad | 30,700 | -300 | 33,700 | -400 |
| Mumbai | 30,700 | + 200 | 34,100 | + 500 | |
| Northern | Mandi Gobindgarh | 32,100 | -800 | 36,700 | -600 |
| Southern | Hyderabad | 29,800 | – 100 | 33,200 | + 300 |
| Bangalore | 29,250 | + 450 | 35,200 | + 400 |
Basic prices in INR/MT as on 23 Dec’14
Source: SteelMint Research
*12 mm Rebar prices on ex-plant basis; Excise & VAT extra
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