Few Indian rolling mills operators have reported that inventory of finished long steel is almost cleared as demand improved, following recovery in prices during this week. Moreover, demand is quite better, mostly from retail and stockiest buying in market due to prevailing positive sentiments, as per media news reported on government’s decision for imposition of safeguard duty.
Central Indian market: Demand from west and north market is also quit good at present. This has resulted in shortage of logistic vehicles, as per few Raipur based manufacturers.
A 500 TPD rebar manufacturer based in Raipur quoted, “We are offering 28 mm rebar at INR 21,500/MT, ex-plant. However, buyers are willing to purchase in bulk quantities at INR 21,200-21,300/MT, which we have denied to sell at such a lower prices.”
East Indian market: Few Durgapur based 300-500 TPD rebar manufacturers stated that they had closed their sales after some bulk deals had concluded at INR 26,000/MT (including all taxes; delivered to Durgapur).
West Indian market: Current production is not on full fledged and slight improvement in sales is clearing present inventory levels. However, there is no selling pressure for coming few days, mentioned Jalna based manufacturers.
South Indian market: Meanwhile, rebar prices in Bangalore increased by around INR 500/MT due to good demand from end users and supply disturbance from Bellary market amid plants maintenance.
Leave a Reply