Re-bar manufacturers in Raipur, Chattisgarh have cut their offers by Rs 200-300 per tonne on Monday looking at weak demand and slow off take.Prices have come down by Rs 500-600/t in last one week say local traders.
” Weak demand from retail and high freight charges have reduced over all demand for finished steel.With rise in freight charges other construction material like cement and sand have become expensive.New projects are not taking off. Current offers for 12mm TMT is at around Rs 33,600/t (Basic prices, excise and taxes extra).”said a trader based in Raipur, Chattisgarh.
Over all Indian re-bar prices in other states either kept unchanged or dropped down marginally.
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