Primary Rebar Producers rollover Prices for Apr’15, except SAIL

After continuous decline of prices from Oct’14 to Mar’15 by INR 6,000-7,000/MT, Rebar prices attain stability for Apr’15.

While Primary Rebar producers such as RINL, JSW Steel have kept prices unchanged for Apr’15, SAIL increased prices by INR 500-700/MT due to plant maintenance.

RINL (Vizag Steel) has rolled over the prices for Apr’15 as demand is still not supportive enough to increase the offer. The company has also reported a downfall in sales turnover of 13% in FY15 as compared to the previous fiscal.

According to sources, JSW Steel has also kept the prices unchanged for Apr’15. Generally, Primary producers revise their prices on a monthly or fortnightly basis and thereafter quantity discounts are applicable as per company policy. But huge fluctuation in raw material prices in the recent past and uncertain market condition has compelled JSW Steel to consider their pricing policy more frequently.

On the other hand, SAIL increased the Rebar offer by INR 500-700/MT for Apr’15 on account of shortage of material of various sizes. As per sources, Durgapur Steel Plant, a unit of SAIL, underwent maintenance for around 8-10 days which impacted production in Mar’15.

Secondary Market
Rebar prices in central and western India picked up by almost 500-1,000/MT last week owing to increase in price of Semi finished steel and shortage of Scrap.

In southern market there is no sign of improvement in demand, owing to which there is not much movement seen in Semi finished and finished steel prices.

Primary Rebar (12 mm) Offers for Apr’15

Note: Excise Included, VAT extra.
Source: SteelMint Research

Indian Billet and Rebar price

Basic Prices as on 9 Apr’15, #=12 mm, Excise duty & CST/VAT extra
Source: SteelMint Research