Primary steel producers have declined rebar offers by around 20-25% since Sep’14.
Almost all primary steel manufacturers have decided to roll over rebar prices for July’15, except RINL (VSP) that reduced offers by INR 500/MT as demand from end users is still absent in the domestic market.
Cumulatively since Sep’14, primary players have decline rebar prices by around 20-25%. Prices were hovering at around INR 47,000/MT for 12 mm in Sep’14, which are at around INR 36,000-37,000/MT presently (excise duty included, CST/VAT extra).
In North India, primary players are offering rebar at INR 37,000/MT for 12 mm (excise duty included, CST/VAT extra) and offers from secondary players are at INR 35,700/MT for the same size material in NCR/Delhi.
Similarly, in south India, especially Karnataka, primary players are offering rebar at INR 36,500/MT for 12 mm (excise duty included, CST/VAT extra) and secondary players at INR 33,600/MT for the same size in Bangalore region.
Indian Billet and Rebar prices
|
Region |
City | Billet | W-o-W | Rebar# |
W-o-W |
| Central | Raipur | 25,000 | 0 | 28,600 | + 100 |
| Eastern | Durgapur | 25,100 | + 450 | 27,900 | + 200 |
| Western | Ahmedabad | 26,500 | 0 | 29,500 | – 300 |
| Mumbai | 25,800 | – 600 | 28,700 | – 300 | |
| Jalna | 26,200 | 0 | 29,600 | 0 | |
| Northern | Gobindgarh(MGG) | 28,750 | + 250 | 33,300 | – 100 |
| Southern | Hyderabad | 25,000 | – 300 | 27,500 | – 500 |
| Chennai | 25,750 | – 500 | 30,300 | – 300 | |
| Bangalore | 26,250 | 0 | 29,900 | – 200 |
Basic Prices as on 3 July’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research
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