Rebar prices in all major Indian secondary markets have corrected in the range of INR 100-300/MT D-o-D.
Indian secondary rebar manufacturers are facing selling pressure since the starting of current week as traders/ stockist prefer to stay away from the market owing to weak demand.
Rebar prices across India have fallen in the range of INR 100-300/MT in the last one day.
Currently, rebar manufacturers based in Hyderabad are offering 12 mm material at INR 25,300/MT (basic price). However, no buyers are ready to take position at current offers.
A rebar manufacturer in Hyderabad reported, “Prices are expected to fall in both semi-finish/ finish steel market in the upcoming days, viewing at recently price corrections in central India”.
Currently, few small/ medium size rebar manufacturers in Raipur are offering 12 mm at INR 23,800-24,000/MT (basic price). Similarly, Raigarh based manufactures are offering the same size material at around 23,000/MT.
Rebar price gap between Raipur and Raigarh is now stands at INR 700-800/MT, which were used to be traded at similar rates earlier.
In similar lines, few premium/large size manufacturers in Raipur are offering the same material at INR 25,000-25,400/MT.
Indian billet and rebar prices as on 29 Jun’16
| Region | City | Billet | D-o-D | 12 mm Rebar | D-o-D |
| Central | Raipur | 20,600 | -100 | 23,750 | -150 |
| Eastern | Durgapur | 20,000 | -100 | 22,300 | -200 |
| Western | Mumbai | 22,000 | -200 | 25,200 | -100 |
| Ahmedabad | 22,800 | -100 | 25,400 | 0 | |
| Northern | Gobindgarh | 23,700 | -200 | 28,100 | 0 |
| Southern | Hyderabad | 22,400 | 0 | 25,300 | 0 |
| Bangalore* | 22,100 | 0 | 27,200 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note : Prices are basic, excise duty and other taxes extra
Leave a Reply