Secondary rebar manufacturers have resisted to make any price corrections in last couple of days. However, prices in western region have declined by INR 300/MT in a day.
Secondary rebar manufactures based in Raipur are trying to hold offers on the anticipation of better demand in upcoming week. Offers more or less remain unchanged in the current week.
Presently, Raipur based manufacturers are selling material mostly to north India like Himachal Pradesh, Haryana and UP owing to better viability. Few large deals for 12 mm were concluded at INR 22,900-23,000/MT (excise duty and other taxes extra).
However, a large rebar manufacturer based in Mumbai has declined offers by INR 300/MT today. But, prices were firm in the starting of current week. Current offers are assessed at INR 25,000-25,200/MT for 12 mm (basic price).
Other markets like north and south India witnessed no change in last few days despite weak demand. Chennai is exceptionally down by upto INR 1,000/MT W-o-W due to low demand amid heavy rainfall.
Indian billet and rebar prices as on 19 Nov’15
|
Region |
City | Billet | D-o-D | W-o-W | 12 mm Rebar | D-o-D |
W-o-W |
| Central | Raipur | 19,900 | – 100 | – 500 | 23,100 | 0 | – 600 |
| Eastern | Durgapur | 20,050 | + 50 | – 500 | 22,600 | + 100 | – 400 |
| Western | Mumbai | 21,800 | – 100 | 0 | 25,100 | – 100 | 0 |
| Jalna | 21,500 | – 100 | – 200 | 24,700 | – 50 | – 200 | |
| Northern | Gobindgarh | 23,300 | – 150 | – 300 | 27,900 | 0 | – 500 |
| Southern | Hyderabad | 21,500 | 0 | – 500 | 24,000 | 0 | – 500 |
| Chennai | 20,250 | 0 | -900 | 25,200 | 0 | – 500 |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
Leave a Reply