Rebar offers have surged by INR 500-600/MT in major secondary market on account of improved demand.
Indian secondary rebar manufacturers have raised offers today by INR 500-600/MT majorly in central, east and north part of India due to improved demand. However, south market has remained stable.
On the flip side, rebar retailers are still holding sufficient stock and no major buying is taking place from end-users.
Few market participants also shared that builders and constructors are also facing problems related to financial as bank is very cautious on releasing proper funds to them to start new projects.
As per a large rebar manufacturer based in Raipur, “Rebar market improved suddenly, which was quite dull last week. As a result, we have increased our offers by INR 500-700/MT and expecting to be better in the coming week.”
Indian billet and rebar prices as on 18 Feb’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,100 | +600 | 25,300 | +600 |
| Eastern | Durgapur | 21,500 | +400 | 24,300 | +500 |
| Western | Mumbai | 23,900 | +200 | 27,400 | 0 |
| Jalna | 24,000 | 0 | 27,000 | 0 | |
| Northern | Gobindgarh | 25,500 | +500 | 29,700 | +300 |
| Ghaziabad* | 24,200 | +300 | 27,400 | +500 | |
| Southern | Hyderabad | 23,500 | +500 | 25,700 | 0 |
| Bangalore* | 20,300 | 0 | 27,200 | 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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