Better viability from central to south India led to rebar price corrections in Bangalore and Hyderabad.
Secondary rebar manufacturers based in Hyderabad and Bangalore are bound to decrease their offers due to improved viability from central India.
Rebar prices in Hyderabad and Bangalore have came down by INR 500/MT in a day. However, offers in other markets remain unchanged in the same period.
Traders/ stockist based in Karnataka/ Kerala had bought rebar in the last few days from Raipur rather than buying from local manufacturers owing to better viability.
A large rebar trader based in Bangalore shared, “We had bought the material from Raipur and had concluded few deals at INR 25,800-26,200/MT (basic price) for 12mm. Freight from Raipur to Bangalore is around INR 3,500/MT. “
On the other hand, a large rebar manufacture based in Raipur had sold the material at around INR 27,000/MT (basic price) for 12 mm to the border of Maharashtra, with freight of around INR 800/MT.
Indian billet and rebar prices as on 12 Apr’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,500 | +100 | 25,500 | 0 |
| Eastern | Durgapur | 22,600 | +200 | 24,700 | 0 |
| Western | Mumbai |
24,100 | -100 | 27,500 | 0 |
| Ahmedabad | 24,600 | -200 | 27,600 | 0 | |
| Northern | Gobindgarh | 25,100 | +100 | 29,300 | 0 |
| Southern | Hyderabad | 25,000 | -500 | 27,800 | -500 |
| Bangalore* | 24,500 | 0 | 31,300 | -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
Leave a Reply