With much awaited bounce back in Indian re-bar prices in mid December, buyers have turned cautious on taking fresh position. Market participants mention that traders and stockists have enough stock in hand at present and chances are less that prices will go up from these levels.
“Trading activities have slowed down at the moment. Current offers stand at Rs 34,000- 34,200/t (Ex Raipur, 12mm), but not many buyers at these levels. Primary producers may either keep their January prices unchanged or hike it marginally.” said a steel trader based in Raipur, Chattisgarh.
Trading volumes in North and South India also noticed decline on seasonal holidays, although some rebound seen in Maharastra.
Leave a Reply