Re-bar prices by secondary steel producers based in Raipur, Chattisgarh, one of the largest steel producing state in the country have gone down by Rs 200-300 per tonne. Manufacturers continue to lower their offers since last week on poor demand and liquidity crunch. Sources tell that most of the mills will take a shut down if situation stays like this for next few days.
Current offers for 12mm re-bar moves down to Rs 32,500-33,000 per tonne (Basic Prices, Ex-Works).
Re-bar prices in other parts of country also remained under pressure primarily due to financial crunch in the market.Re-rollers are operating their units at very thin margin, chances are less that prices will see a sharp correction said market participants.
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