Poor demand resulted price fall of Rs 500-700/MT in South India

In Hyderabad prices dropped by Rs 700-1000/MT yesterday on poor finish demand and high inventory at plant level. “Price will remain stable at this level, as earlier our prices were high as compare to prices in Raipur and Jalna” said Ingot/TMT Manufacturer based in Hyderabad. 

In Coimbatore also prices dropped by Rs 500/MT, consecutively in second week as TMT traded at Rs 42,500/MT (Including ED). A native manufacturer based at Coimbatore says that “prices fall uninterruptedly due to low trading volume, buyers not showing their interest on stoking.”

Palakkad and Trivandrum finish long market also subdued because of lesser trading activities in the region. After falling by Rs 600/MT re-bar offers at Rs 43,600/MT (including all) in Palakkad and in Trivandrum it’s traded at Rs 44,600/MT (including all).

However, Market in Raipur, Durgapur and Rourkela were stable. Yesterday Raipur Ingot was traded at Rs 28800 (basic) in good volume as TMT demand picks up gradually.