Indian secondary rebar manufacturers’ offers are stable despite low buying in the market.
Indian secondary rebar manufacturers are unwilling to decline their offers in last couple of days despite weak buying in the market. Rebar offers more or less remained stable in the current week.
Most of manufacturers based in Raipur are offering 12 mm rebar at INR 24,700-25,000/MT (basic price), but no major buying has been heard at the same rate. However, few large traders, who had held their stock, are offering discount of INR 200-400/MT in order to liquidate their inventory.
Similarly, few large rebar manufacturers in Raipur are offering the same size material at INR 26,000-26,500/MT.
A rebar manufacturer based in Raipur shared,” Last month, conversion gap from ingot/billet to rebar was hovering in the range of INR 2,500-3,500/MT, which is now within INR 1,500-2,500/MT. This indicates demand is quite dull in the present market.”
Indian billet and rebar prices as on 19 Jan’16
| Region | City | Billet | D-o-D | 12 mm Rebar | D-o-D |
| Central | Raipur | 21,150 | -200 | 24,700 | -200 |
| Eastern | Durgapur | 21,000 | +50 | 24,600 | -200 |
| Western | Mumbai | 22,900 | 0 | 26,400 | -50 |
| Jalna | 22,700 | 0 | 25,900 | 0 | |
| Northern | Gobindgarh | 23,900 | +100 | 28,200 | 0 |
| Ghaziabad* | 23,600 | 0 | 26,600 | 0 | |
| Southern | Hyderabad | 22,500 | 0 | 25,200 | 0 |
| Bangalore* | 22,000 | 0 | 27,100 | 0 |
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
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