Rebar prices lowered by INR 100-600/MT W-o-W due to seasonal downtime in steel consumption.
Manufacturers are struggling to keep rebar prices firm due to slow buying from stockists and seasonal downtime in steel consumption. Rebar prices last week went down by INR 100-600/MT, taking cumulative prices down by INR 1,000/MT for June’15.
Mumbai (West India) rebar price went up by INR 200/MT, as Maharashtra increased power tariff by INR 0.70-0.90/unit wef from 1 June’15. Maharashtra’s rebar production reached around 70-80% of the total installed capacity of 3.9 MnT pa in FY15, as per SteelMint’s research. Manufacturers in coastal regions complained of poor financial payment cycle.
MS billet prices also, in line with finish steel, went down by INR 200-850/MT, except in Raipur where prices surged unexpectedly due to news of neighbor city (Raigarh) closing 30 furnace. Sources say that furnace operators had a dispute with Jindal Power over old due of cess in power tariff. However, it is now heard that the dispute has been nearly resolved. As such, few furnances are likely to start by end of day today and the rest may start soon.
Indian Billet and Rebar prices
| Region | City | Billet | W-o-W | Rebar# | W-o-W |
| Central | Raipur | 25,300 | + 300 | 28,900 | – 100 |
| Eastern | Durgapur | 24,600 | – 150 | 27,700 | – 200 |
| Western | Ahmedabad | 26,150 | – 850 | 29,500 | – 600 |
| Mumbai | 26,600 | + 200 | 29,300 | + 200 | |
| Jalna | 26,300 | – 300 | 29,700 | – 100 | |
| Northern | Gobindgarh(MGG) | 28,550 | – 200 | 33,100 | – 300 |
| Southern | Hyderabad | 25,000 | – 500 | 27,700 | – 500 |
| Chennai | 26,400 | + 100 | 30,300 | 0 | |
| Bangalore | 26,250 | 0 | 29,900 | -200 |
Basic Prices as on 30 Jun’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research
International Rebar Prices
| Country | Price (USD/MT) |
| China | 325 |
| China export (FOB) | 335 |
| CIS export FOB (black sea) | 395 |
Note: Prices as on 26 June’15
Leave a Reply