Secondary rebar manufacturers hold offers especially in central and south India. While, other markets in east and north regions have registered a fall of INR 600-800/MT W-o-W.
Post an uptick in rebar demand last week, especially in central and west market, a dullness is again witnessed this week. However, manufacturers have somehow managed to kept offers stable. Meanwhile, offers in south India have also remained steady this week.
Presently, Raipur based small and medium size manufacturers are interested to sell the material mostly to north India, especially to NCR region owing to better viability. Few deals for 12 mm were concluded at INR 22,500-23,000/MT (excise duty and other taxes extra).
Few large rebar manufacturers based in north India are currently offering 12 mm rebar at INR 28,500-29,000/MT, FoR NCR . Prices in north India have declined by INR 600-800/MT W-o-W due to increase in material inflow from central India.
Primary rebar manufacturers have declined rebar offers by upto INR 2,000/MT in Oct’15 and offering in projects for 12mm at INR 30,000-31,000/MT (excise duty included, VAT/ CST extra) to NCR region.
In the current month, few primary producers are likely to reduce offers owing to price competition among them and increase in production.
Indian billet and rebar prices as on 2 Dec’15
| Region | City | Billet | W-o-W | 12 mm Rebar | W-o-W |
| Central | Raipur | 19,350 | – 50 | 22,600 | 0 |
| Eastern | Durgapur | 19,150 | – 450 | 21,400 | – 600 |
| Western | Mumbai | 21,600 | – 450 | 24,600 | – 200 |
| Jalna | 21,400 | – 400 | 24,600 | – 200 | |
| Northern | Gobindgarh | 22,200 | – 600 | 26,800 | – 800 |
| Southern | Hyderabad | 21,500 | 0 | 24,000 | 0 |
| Bangalore | 20,500 | + 200 | 24,500 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
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