Rebar prices in Bangalore have declined by INR 600/MT and in Hyderabad by INR 300/MT W-o-W.
Sponge based Market.
Demand seems to be continuously weak in South Rebar market. Prices in Bangalore have declined by INR 600/MT W-o-W owing to lesser buying from end-users and the material is currently being offered at INR 33,400/MT. In Karnataka, Rebar production capacity is about 0.5 MnT pa.
As per a trader in Bangalore, “Rebar mills have surplus stock available, as a result, they are offering the material at lower price to clear their stock. He also added, few units have cut down their production for temporary period and are under maintenance.”
In Hyderabad, Rebar is currently being offered at INR 31,200/MT; down by INR 300/MT owing to decline in Ingot prices by INR 500/MT coupled with slowdown in construction activities, which is due to high prices of construction material like cement and sand.
Scrap based Market
Rebar prices in Chennai (Scarp based market) remains unchanged in the last one week. The trade activities remained dull in the whole month because of continuous festival season.
As per a leading Rebar manufacturer in Chennai, “Currently, we have reduced the production capacity to almost 40-50% owing to low sales of Rebar and we are manufacturing the material as per the requirement in order to maintain the inventory level, but market is likely to pick up in the upcoming month.”
Weekly & Monthly MS Ingot and 12 mm Rebar Prices
|
Region |
City | Ingot Price | W-o-W | M-o-M | Rebar Price | W-o-W |
M-o-M |
| Central | Raipur | 26,750 | -650 | -800 | 30,700 | -500 | -900 |
| Eastern | Durgapur | 27,450 | -100 | -6000 | 30,200 | 0 | -1,000 |
| Western | Ahmedabad | 29,000 | -150 | -1,800 | 32,600 | -500 | -1,600 |
| Mumbai | 29,300 | -500 | -1,700 | 32,800 | -200 | -1,400 | |
| Northern | Mandi Gobindgarh | 30,350 | -200 | -1,200 | 35,100 | -300 | -1,200 |
| Southern | Hyderabad | 27,800 | -500 | -1,200 | 31,200 | -300 | -600 |
| Bangalore | 29,250 | 0 | + 450 | 33,400 | -600 | -1,400 | |
| Chennai | 29,000 | -350 | -400 | 33,400 | 0 | -700 |
Basic prices in INR/MT as on 31st Jan’15
Source: SteelMint Research
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