Secondary rebar offer increases by INR 500-600/MT W-o-W owing to low production in Jalna and Mumbai. South and East remain dull
Rebar manufacturers based in Mumbai and Jalna have increased price in the current week by INR 500-600/MT, after fall in price by INR 2,500-3,000/MT M-o-M. Many rolling mills in the region have shifted production to night hours (especially in Jalna that has 0.11 MnT pa capacity). Offers in east India remained stable.
A trader based in Jalna said, “Manufacturers in Jalna have increased offers in the last one week but demand is not in line with the price. Rebar mills also reduced cash discount on the material by 0.5% from earlier 2% to 1.5%”.
“There are 8-9 mills in total in Jalna. Out of these, 4-5 are running in single shift and rest are running at around 18 hrs/day,” he added.
Price Fall in South India: Prices fell sharply in south India market by INR 300-600/MT, in line with billet prices falling by INR 350-1,000/MT.
Indian Billet and Secondary Rebar Prices
| Region | City | Billet | W-o-W | Rebar# | W-o-W |
| Central | Raipur | 23,100 | + 750 | 26,200 | + 500 |
| Eastern | Durgapur | 22,200 | +50 | 24,600 | – 100 |
| Western | Ahmedabad | 24,500 | + 600 | 27,000 | + 100 |
| Mumbai | 24,700 | + 1,100 | 27,300 | + 600 | |
| Jalna | 24,300 | + 1,000 | 26,600 | + 500 | |
| Northern | Gobindgarh(MGG) | 26,000 | + 100 | 30,400 | + 200 |
| Southern | Hyderabad | 24,200 | – 100 | 26,600 | – 400 |
| Chennai | 24,000 | – 1,050 | 28,400 | – 300 | |
| Bangalore* | 24,150 | – 350 | 28,700 | – 600 |
Basic Prices as on 6 Aug’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research
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