Secondary rebar manufacturers in major Indian markets like Hyderabad, Bangalore and Mumbai have decreased their offers owing to unsupportive demand.
Indian secondary rebar manufacturers are facing selling pressure owing to unsupportive demand; in turn are bounded to decrease their offers.
The manufacturers based in Hyderabad and Bangalore have reduced their offers by INR 500/MT in a day in-line with fall in ingot/ billet prices.
Similarly, manufacturers based in Mumbai (west India) have also lowered their rebar offers by INR 300/MT in last one day due to low buying.
However, in the other west Indian markets like Gujarat, few secondary rebar manufacturers have increased offers marginally by INR 200-300/MT in last couple of days. The major reason behind this is expectation of improvement in demand post end of festive season last week.
Presently, rebar prices in Ahmedabad for 12, 16, 25 mm are in the range of INR 32,000-32,500/MT FoR (including excise duty, VAT & freight).
Indian billet and rebar prices as on 20 Jan’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,250 | +100 | 24,700 | 0 |
| Eastern | Durgapur | 21,150 | +150 | 24,800 | +200 |
| Western | Mumbai | 22,800 | -100 | 26,100 | -300 |
| Ahmedabad | 23,500 | +400 | 26,700 | +200 | |
| Northern | Gobindgarh | 24,100 | +200 | 28,300 | +100 |
| Ghaziabad* | 23,800 | +200 | 26,600 | 0 | |
| Southern | Hyderabad | 22,000 | -500 | 24,700 | -500 |
| Bangalore* | 21,600 | -400 | 26,600 | -500 |
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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