Rebar prices are likely to be under pressure in Hyderabad in the next few days.
Demand seems to be very sluggish in south and west Indian long steel markets this week. Owing to low buying, rebar manufacturers have declined prices by upto INR 400/MT in a day.
Rebar offers in Hyderabad have been stable since last two days. But, prices are likely to be under pressure in next few days as billet manufacturers in the state have high stock levels.
Presently, booking of rebar from Hyderabad to Bangalore is also minimal owing to less viability. In general, rebar price gap between Hyderabad and Bangalore is INR 2,000-2,500/MT, which now stands at INR 1,700/MT.
Indian billet and rebar offers as on 27 Oct’15
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 20,650 | – 50 | 23,800 | – 100 |
| Eastern | Durgapur | 20,850 | – 350 | 23,400 | – 200 |
| Western | Mumbai | 22,400 | – 100 | 25,450 | – 200 |
| Jalna | 22,000 | – 300 | 25,150 | – 450 | |
| Northern | Gobindgarh | 23,900 | – 200 | 29,000 | – 200 |
| Southern | Hyderabad | 22,500 | 0 | 24,950 | 0 |
| Bangalore* | 22,000 | – 450 | 26,700 | – 400 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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