Rebar offers in central, north and west India decline by INR 300-700/MT, south India up by INR 300-500/MT W-o-W.
Rebar offers in Raipur (central India) and Delhi (north India) decline by INR 500-700/MT W-o-W. However, offers in south India, especially Hyderabad and Bangalore, have shown some strength by INR 400-500/MT in the last few days.
Selling pressure forced rebar manufacturers in raipur to reduce offers by INR 700/MT W-o-W as buying seems to be weak from end-users. Meanwhile, buying of rebar improved from Bangalore region, which is a major consumer of finished steel owing to which offers pulled up by INR 500-700/MT.
Supply of rebar has also increased from Hyderabad to Bangalore owing to better viability at present. As per a trader in Banglaore, “10-25 mm material is being traded at INR 35,000/MT FOR Hyderabad to Bangalore and 10, 12, 16 mm material is offered by Bangalore rebar manufacturers at INR 36,300/MT inclusive of all taxes.”
As per a billet and rebar manufacturer based in Hyderabad, “Offers of semi- finished steel and finished steel have increased by INR 300-500/MT in the last few days but market is still dull.” He also added, “Fuel surcharge adjustment (FSA) is likley to be imposed in the coming days which may increase our production cost.”
Indian Billet and Rebar Prices
|
Region |
City | Billet | W-o-W | Rebar# |
W-o-W |
| Central | Raipur | 24,800 | – 350 | 28,100 | – 700 |
| Eastern | Durgapur | 25,000 | – 50 | 27,900 | + 300 |
| Western | Ahmedabad | 26,300 | 0 | 29,200 | – 300 |
| Mumbai | 25,100 | – 1,200 | 28,600 | – 300 | |
| Jalna | 25,500 | – 700 | 29,100 | – 500 | |
| Northern | Gobindgarh(MGG) | 28,600 | – 100 | 33,200 | 0 |
| Southern | Hyderabad | 25,000 | + 500 | 28,100 | + 500 |
| Chennai | 25,750 | – 450 | 30,000 | – 300 | |
| Bangalore* | 26,250 | 0 | 30,500 | + 600 |
Basic Prices as on 8 July’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research
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