Rebar prices in Indian secondary market fell by upto INR 400/MT in a day.
After surge in rebar prices in secondary market last week by INR 600-1,200/MT, trade activities has slowdown in the ongoing current week.
Secondary rebar manufacturers have decreased offers by upto INR 400/MT across India in a day owing to weak buying from traders or stockist .
In south India especially Hyderabad and Bangalore, rebar prices have surged the most among all major market in last few days, which has not absorbed the market fully.
A large rebar manufacturer based in Hyderabad also shared that our inventory level has increased currently and facing difficultly for selling material.
Few rebar manufacturers based in Hyderabad are offering material at INR 35,100/MT FoR Bangalore (10-25mm). On the other side, rebar manufacturers based in Bangalore are offering the same size/ grade material at INR 36,600/MT (including VAT).
Indian billet and rebar prices as on 15 Mar’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,550 | -500 | 25,600 | -150 |
| Eastern | Durgapur | 22,150 | -100 | 24,700 | -400 |
| Western | Mumbai | 24,500 | -100 | 27,600 | -300 |
| Ahmedabad | 25,400 | -100 | 28,200 | -200 | |
| Northern | Gobindgarh | 25,800 | -350 | 30,500 | -100 |
| Ghaziabad* | 24,500 | 0 | 27,200 | -200 | |
| Southern | Hyderabad | 25,500 | -100 | 28,200 | -200 |
| Bangalore* | 24,100 | 0 | 31,000 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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