Rebar demand witnessed slightly better in Central India, while buying activities in Maharashtra is not picking up due to ongoing water crisis.
Rebar prices in Indian secondary market like Central, East and South India are almost stable in the last few days. However, in West India prices fall especially in Mumbai.
Few rebar manufacturers based in Raipur has reported that demand is better from starting of week 24 as compare to previous week.
Few Raipur based small/ medium size rebar mills had concluded the deal at INR 23,800-24,000/MT (basic price) for 12mm and material has been sold to Maharashtra, UP and MP.
In Hyderabad, rebar offers are now at INR 25,300/MT (basic price) for 12mm, but no major buying is taking place at the current offers as traders or stockist has already lifted the material in bulk last week.
In west India especially Maharashtra, rebar price are continue to remain under pressure owing to low buying from the end-users. The major reason witness is ongoing water crisis which continuous to halt the demand of construction materials.
Indian billet and rebar prices as on 8 June’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 21,200 | +100 | 24,050 | 0 |
| Eastern | Durgapur | 20,950 | +100 | 23,400 | -100 |
| Western | Mumbai | 22,700 | -100 | 25,800 | -300 |
| Ahmedabad | 23,000 | +300 | 24,700 | +200 | |
| Northern | Gobindgarh | 24,600 | 0 | 28,500 | 0 |
| Southern | Hyderabad | 22,500 | 0 | 25,300 | 0 |
| Bangalore* | 21,900 | 0 | 27,200 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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