After a sudden increase in rebar offers by INR 3,000-4,500/MT during Dec’15, offers have fallen by INR 1,500-2,400/MT in a week.
After sudden increase in offers by INR 3,000-4,500/MT last month by Indian secondary rebar manufactures, prices again bounced back by INR 1,500-2,400/MT in last one week as demand seems to be silent.
In addition, Indian government, which was about to take measures on the proposed minimum import price on certain steel products, has put the decision on hold for some period. This has brought the negative sentiment in the market.
Prices have slumped at pan India by upto INR 2,400/MT W-o-W, followed by west India by upto INR 1,500/MT in a week.
However in a day, rebar offers in Hyderabad down by INR 800-1,000/MT in-line with fall in billet prices as demand is not suportive from Karnataka region and within the state.
As per a large rebar manufacturer based in Raipur, “Market is quite dull now as no major booking done, especailly from neighbouring states like Maharashtra due to unviability. Also, price gap between Raipur and Jalna/Mumbai is just INR 1,000/MT.”
Indian billet and rebar prices as on 11 Jan’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,250 | -1,750 | 25,300 | -2,000 |
| Eastern | Durgapur | 21,100 | -1,400 | 24,200 | -2,100 |
| Western | Mumbai | 22,700 | -1,600 | 26,500 | -1,200 |
| Jalna | 22,900 | -1,500 | 26,300 | -1,500 | |
| Northern | Gobindgarh | 23,800 | -1,400 | 28,100 | -1,900 |
| Southern | Hyderabad | 22,000 | -2,500 | 24,800 | -2,400 |
| Bangalore* | 22,450 | -900 | 28,000 | -1,100 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
Leave a Reply