Secondary rebar manufacturers have raised their offers suddenly. Major gain cited in Raipur (+800), Ahmedabad (+500), and Durgapur (+200). Meanwhile, prices in other markets have increased marginally by INR 100-200/MT.
Sources say the government will take safeguard measure next week and the market may further see price rise by INR 300-500/MT in next week.
As per a rebar and billet manufacturers based in Gujarat, rebar offers have significantly increased by around INR 1,500/MT in this week and INR 2,500/MT in last 15 days.
Earlier, prices as well as conversion spread had touched the lowest levels, which have now recovered to some extent. However, traders anticipate that from now onwards steel prices will remain bullish till Feb’16.
Indian billet and rebar prices as on 19 Dec’15
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 21,300 | +300 | 25,100 | +800 |
| Eastern | Durgapur | 20,400 | +250 | 23,600 | + 200 |
| Western | Mumbai | 22,700 | +300 | 25,500 | +100 |
| Ahmedabad | 24,100 | +650 | 27,100 | +500 | |
| Northern | Gobindgarh | 24,000 | +100 | 28,200 | + 100 |
| Southern | Hyderabad | 23,000 | 0 | 25,500 | 0 |
| Bangalore* | 22,000 | 0 | 27,500 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra, *Ingot price
Source: SteelMint Research
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