Rebar Prices Hold in Indian Market, Trade Limited

Rebar offers slightly up by INR 300-400/MT W-o-W across India, except South.

Rebar prices held in major Indian market in the last few days. Prices in central, east, west and north moved slightly upwards by INR 300-400/MT W-o-W. However, south showed no significant change in the same period.

All steel mills in Chhattisgarh are facing acute shortage of power from the last few days and it is likely to continue for an indefinite period. Raipur, one of the largest producing states of all finished steel, has held offers for both billet and rebar since then.

A rebar manufacturer based in Raipur shared, “There is a 3-4 hour daily power cut in Raipur industrial belt, owing to which production will be hampered a little. Rebar sales are also very limited.”

Rebar offers in Hyderabad saw no major movement owing to stability in billet prices and trade dull activities especially in Bangalore market, which is a major consumer of rebar.

A well known trader based in Bangalore said, “Demand of rebar is very dull since starting of the current month and currently, viability is also lesser from Hyderabad to Bangalore. There is also a local municipal election going to be held from 22 Aug’15 in Bangalore, which is keeping trade activities away from the market.

He also added, “One of primary rebar manufacturer based in south are offering at INR 35,500/MT (excise duty included, CST/VAT extra) in Bangalore retail market for 12-32 mm.”

Indian Billet and Rebar Prices

Basic Prices as on 11 Aug’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research