Rebar Offers Firm Across India Except West

Secondary Rebar offers picked up slightly across India by INR 300-500/MT W-O-W and INR 1,000-2,500/MT M-O-M.

Secondary Rebar manufacturers have raised offers by INR 300-500/MT in central and east India W-o-W. Offers in other markets like south remained unchanged. In West, especially Mumbai and Jalna, offers saw a downfall by INR 1,000/MT in the same period.

Due to ongoing strike of Raipur based Ingot and Billet manufacturers, trade activity seems to be minimal at present in the finished steel market. Rebar manufacturers are also holding prices until the situation returns to normal.

In south, Hyderabad rebar offers were unchanged in the last one week as no major movement was observe in the semi-finished steel prices. Also, all billet and rebar manufacturers decided to remain closed twice in a week to control the market conditions.

A rebar manufacturer based in Hyderabad said, “Since supply of rebar is outpacing demand all over Hyderabad market, billet and rebar manufacturers have decided to keep plants closed twice in a week to prevent fall in prices.”

Western Market Fall

In West India, weak demand all over Maharashtra, coupled with the fall in billet prices led to fall in rebar prices by upto INR 1,000/MT W-o-W.

As per a rebar manufacture based in Mumbai, “currently rebar sales is slow, owing to which prices have also corrected by INR 1,000/MT and are expecting to fall further by INR 500/MT in coming week”.

Note: Above price are ex-plant basis, excise duty and other taxes extra

Indian Billet and Secondary Rebar prices

Basic Prices as on 3 Sep’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research