Rebar prices in secondary market remained stable last week in central and north, but reported price correction in west and south India
Indian rebar prices in secondary market were remained almost stable in major market, except in west and south India during last week.
On a weekly basis, rebar prices in west and south India had fallen by INR 400-800/MT as market was quite dull amid limited buying as compared to other Indian markets.
Similar situation prevails in other Indian market like central and north India. But, rebar prices in these markets undergone no price fluctuations in the previous week despite weak demand.
Raipur, one of the largest rebar manufacturers based in central India, is continuously facing problem in supplying material to the border of MP from the last one month. Now, major supply of material is being heard to the border of Maharashtra i.e Vidarbha region.
A large size rebar manufacturer based in Raipur reported, “Market seems to be stable from the last one week and it is likely to remain unaltered till this month. In terms of demand, projects sales are quite better as compared to retail sales.”
Indian billet and rebar prices as on 25 Apr’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,600 | +250 | 25,500 | 0 |
| Eastern | Durgapur | 22,850 | +350 | 25,400 | +400 |
| Western | Mumbai | 24,600 | -100 | 27,400 | -400 |
| Ahmedabad | 25,000 | +400 | 26,900 | -800 | |
| Northern | Gobindgarh | 25,800 | +500 | 29,800 | 0 |
| Southern | Hyderabad | 25,000 | 0 | 27,500 | -300 |
| Bangalore* | 24,500 | -400 | 29,700 | -900 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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