Indian re-bar prices which have been subdued for last few months is likely to see some rebound in the month of December and January, anticipates re-rollers and traders across India.
“We can sense demand creeping in and with low inventories across India we expect prices to rise up to Rs 1,000-1,500 per tonne in next few weeks. Also it is a general trend that prices shoot up during December and January on demand from construction and retailers.” said a re-roller based in Mumbai.
“Demand has improved from last week, and with plants running at low capacities, it is likely that prices will go up in short term.” said a trader from Raipur.
A manufacturer based in Indore confirmed booking of 500-800 MT within a time period of 2 days. Improved demand has resulted in to a price hike by RS 400-500/MT and expected to move further, he said.
Leave a Reply