Indian rebar prices have fallen slightly in a week’s time amid sluggish rebar market.
Indian rebar manufacturers have been continuously facing selling pressure on account of sluggish demand since the starting of Aug’16.
However, rebar prices have fallen by merely INR 200-400/MT W-o-W in most of the Indian markets. A sharp price correction of INR 1,000/MT is witnessed in Gujarat during the same period.
Despite production stopped by almost all rebar mills in Raipur from the last few days owing to high power tariff in Chhattisgarh, there has been no major impact seen in other domestic market in terms of pricing.
Market participants are expecting some improvement in demand in near term post monsoon, especially from the government’s projects . However, supply is still a concern.
Indian billet and rebar prices as on 9 Aug’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 19,950 | -100 | 22,500 | -200 |
| Eastern | Durgapur | 19,450 | -250 | 21,500 | -200 |
| Western | Mumbai | 21,200 | -200 | 24,200 | -50 |
| Ahmedabad | 21,100 | -750 | 22,800 | -1,000 | |
| Northern | Gobindgarh | 22,900 | -100 | 27,200 | +300 |
| Southern | Hyderabad | 21,000 | 0 | 23,900 | -100 |
| Bangalore* | 21,300 | +100 | 26,200 | +200 |
Prices in INR/MT
Source: SteelMint Research
Note : Prices are basic, excise duty & other taxes extra
Leave a Reply