Rebar prices surged by INR 300-500/MT in north India during week 15. While, offers in south region down by INR 500-1,200/MT. Meanwhile, it remained unchanged in central areas.
Indian secondary rebar manufacturers are trying to push up offers majorly in north and east India during last week. But, no major trade took place as demand was not supportive.
On a weekly basis, rebar prices in these regions had surged by INR 300-500/MT. While, other market like Raipur had witnessed no price change.
On the contrary, south Indian market witnessed major fall of INR 500-1,200/MT in prices owing to decline in ingot/billet prices and low buying.
Raipur, one of the largest rebar manufacturers based in central India, is still facing problem in supplying material to the border of MP. This has led to imbalance of demand and supply. MP is also biggest buyer of rebar from Raipur and Jalna.
A medium size rebar manufacturer based in central India reported, “It seems that rebar buyers are less interested to take position, which may lead to further pressure on prices in the current week.”
Indian billet and rebar prices as on 18 Apr’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,350 | -50 | 25,500 | 0 |
| Eastern | Durgapur | 22,500 | +100 | 25,000 | +300 |
| Western | Mumbai | 24,600 | +400 | 27,800 | +300 |
| Ahmedabad | 24,600 | -200 | 27,700 | +100 | |
| Northern | Gobindgarh | 25,300 | +300 | 29,800 | +500 |
| Southern | Hyderabad | 25,000 | -500 | 27,800 | -500 |
| Bangalore* | 24,900 | 0 | 30,600 | -1,200 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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