Domestic rebar market reported price corrections of INR 200-400/MT in a week. However, market was quite volatile during the duration.
Indian rebar makers reduced their offers by INR 200-400/MT in major markets, including Raipur, Durgapur and Mumbai. However, market showed volatility throughout the week.
As per sources, few medium sized manufacturers based in Raipur had concluded few deals at INR 24,000-24,200/MT (basic price) for 12 mm last week in border states like Maharashtra, MP and Gujarat too.
In west India, including Maharashtra and Gujarat, buying activities remain dull throughout the last week owing to volatility in the market.
Indian billet and rebar prices as on 30 May’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,250 | +100 | 24,100 | -250 |
| Eastern | Durgapur | 21,250 | -200 | 23,900 | -400 |
| Western | Mumbai | 22,900 | -300 | 26,550 | -200 |
| Ahmedabad | 22,900 | -400 | 25,000 | 0 | |
| Northern | Gobindgarh | 24,800 | +100 | 28,800 | -200 |
| Southern | Hyderabad | 22,500 | 0 | 25,300 | 0 |
| Bangalore* | 21,700 | -500 | 27,600 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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