Rebar prices in Central and Western markets remain unchanged while slid down in the Southern by INR 500/MT owing to low offtake.
Central India
Trade activity of Rebar seems to have been slow in the Chhatisgarh region since the State government presented budget on 13 Mar’15. VAT on re-rolled products has been reduced from 5% to 4% in the recent state budget and it will be applicable from 1st of Apr’15.
As per a Rebar manufacturer based in Chhatisgarh, “Currently buying of Rebar is weak in the state and and end users are waiting to take advantage of 1% VAT on Rebar from 1 Apr’15 which is around INR 200-300/MT.”
South India
Rebar prices in Hyderabad and Bangalore down by INR 400-600/MT W-o-W as demand is not picking up from the construction activities coupled with slight correction in Ingot/Billet prices.
Indian Ingot and Rebar price
| Region | City | Ingot Price | W-o-W | Rebar Price# | W-o-W |
| Central | Raipur | 26,050 | – 50 | 30,100 | + 100 |
| Eastern | Durgapur | 27,400 | – 50 | 30,900 | + 400 |
| Western | Ahmedabad | 28,000 | + 50 | 31,300 | – 300 |
| Mumbai | 28,300 | 0 | 31,500 | 0 | |
| Northern | Mandi Gobindgarh | 30,300 | – 200 | 35,200 | + 100 |
| Southern | Hyderabad | 27,300 | – 500 | 30,300 | – 400 |
| Bangalore | 28,400 | – 400 | 32,600 | – 300 |
Basic price in INR/MT as on 27th Feb’15
Note : Excise duty and VAT/CST extra, # =12mm
Total Import of Bar and Rod Surge by 17% in Feb’15
According to JPC-Ministry of Steel reported monthly data, total import of Bar and Rod surged in Feb’15 by 17%
| Month | Alloy Steel | M-o-M Change | Non-Alloy steel | M-o-M Change | Total (Alloy & non-Alloy Steel Imports) | M-o-M Change |
| Apr’14 | 21,560 | 0 | 25,210 | 0 | 46,770 | 0 |
| May’14 | 32,070 | 49% | 34,580 | 37% | 66,650 | 43% |
| Jun’14 | 8,230 | – 74% | 45,970 | 33% | 54,200 | – 19% |
| Jul’14 | 14,380 | 75% | 73,090 | 59% | 87,470 | 61% |
| Aug’14 | 44,040 | 206% | 64,450 | – 12% | 108,490 | 24% |
| Sep’14 | 23,490 | – 47% | 131,500 | 104% | 154,990 | 43% |
| Oct’14 | 61,600 | 162% | 142,300 | 8% | 203,900 | 32% |
| Nov’14 | 140,440 | 128% | 99,200 | – 30% | 239,640 | 18% |
| Dec’14 | 163,000 | 16% | 85,600 | – 14% | 248,600 | 4% |
| Jan’15 | 111,580 | – 32% | 62,300 | – 27% | 173,880 | – 30% |
| Feb’15 | 155,590 | 39% | 47,800 | – 23% | 203,390 | 17% |
| Apr’14-Feb’15 | 754,420 | 786,790 | 1,541,210 |
Qty in MT
Source: JPC-Ministry of Steel
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