Secondary rebar manufacturers kept offers more or less unchanged in a week’s time, except in south India.
Since starting of May’16, secondary rebar manufacturers in Indian market have reported that demand was quite suppressed despite ongoing peak season.
There is no major price change seen in rebar prices during last one week. However, offers in south India fell by upto INR 1,000/MT.
In general, builders or contractors intend to finish their ground level work before monsoon season for which they started holding the material. But, it seems that no major trades have been currently taking place.
Few rebar manufacturers based in central and east India have also reported that if prices went to below the present level, it will become difficult for manufacturers to sustain in the market.
A large rebar trader based in Raipur said, “No major deals took place from the last couple of weeks as sales are found to be very weak.”
Indian billet and rebar prices as on 9 May’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,050 | 0 | 25,100 | -50 |
| Eastern | Durgapur | 22,450 | +150 | 24,800 | -200 |
| Western | Mumbai | 23,700 | 0 | 27,000 | +100 |
| Ahmedabad | 23,700 | -100 | 26,200 | +200 | |
| Northern | Gobindgarh | 25,500 | 0 | 29,400 | -200 |
| Southern | Hyderabad | 23,500 | -1,000 | 26,300 | -1,000 |
| Bangalore* | 23,100 | -900 | 29,300 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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