Rebar prices in the secondary market picked up in central and west India during week 25.
Indian rebar prices in the secondary market were firm across India during last one week. Major positive price movements were seen in central and west India.
Few rebar manufacturers based in Raipur have reported that a lots of buying activities took place during last one week, irrespective of traders/ retailers/ end-users majorly from neighbouring states like MP and Maharashtra.
Infact, it is also heard that there was also shortage of material mainly in Raipur as demand outskirts supply.
Similarly, rebar prices in Mumbai had also surged by INR 300/MT W-o-W due to increase in ingot/ billet prices in the same time. But, demand was still lagging behind.
A large rebar manufacturer said, “Currently, rebar manufacturers based in Mumbai are facing low price gap between billet and rebar. In general, it requires a price gap of INR 3,500-4,000/MT for 12 mm rebar, which has now reduced to around INR 3,000/MT.”
Indian billet and rebar prices as on 20 Jun’16
| Region | City | Billet | W-o-W | 12 mm Rebar | W-o-W |
| Central | Raipur | 21,150 | +150 | 24,300 | +400 |
| Eastern | Durgapur | 20,550 | -50 | 23,000 | -200 |
| Western | Mumbai | 22,900 | +300 | 25,800 | +200 |
| Ahmedabad | 23,300 | +700 | 25,500 | +1,000 | |
| Northern | Gobindgarh | 24,100 | -100 | 28,500 | 0 |
| Southern | Hyderabad | 22,200 | +200 | 25,100 | 0 |
| Bangalore* | 21,700 | +200 | 26,600 | -200 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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