Poor demand and slow construction affects Indian long steel market

Lesser trading
activities in Durgapur leads to drop in re-bar offers by Rs 500/MT. Re-bar
offers in Durgapur at present stands at Rs 38,500/MT after falling by Rs 500/MT
on Wednesday.

A slowdown in demand
has been observed across India during this period. In southern India, Re-bar prices
falls by Rs 500-1000/MT within a week time.

Bangalore re-bar
offers stands at Rs 43,100/MT down by Rs 500/MT.In line, re-bar prices
at Chennai and Hyderabad also dropped by Rs 500-800/MT with offers at present
stands at Rs 40,000/MT and Rs 35,000/MT respectively.

However,
Mumbai TMT market showing marginal improvement and reached at Rs 36,700/MT
after registering an increase of Rs 200-300/MT in last two days transactions.

Market
seems some improvement in Central India as well with demands improvement at Raipur
region. Current prices at Raipur stand at Rs32000-32512/MT.