Indian rebar manufacturers has reduced offers further by INR 500-1,400/MT W-o-W. Major price correction seen in Central, West & South India by upto INR 800-1,400/MT whereas in East India prices fall marginally by INR 400/MT in the same duration.
At present, rebar producers are offering 12 mm material in the range of INR 23,500-24,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 24,500-24,800/MT in ex- Hyderabad, INR 25,700-26,000/MT in ex-Mumbai. INR 23,900/MT in Durgapur.
Rebar prices has sharply surge by INR 2,500-3,000/MT across India during Sep’16 but market did not sustain owing to weak demand at higher rates. As a result, prices has been continuously falling since starting current month.
A well know rebar manufacturer based in Central India stated, “rebar market is quite silent and no enquiry is coming for the last few days“.
Indian billet and rebar prices as on 17 Oct’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,300 | -1,200 | 23,700 | -1,100 |
| Eastern | Durgapur | 21,900 | -100 | 23,900 | -400 |
| Western | Mumbai | 22,500 | -1,300 | 25,700 | -1,000 |
| Ahmedabad | 23,500 | -600 | 25,800 | -1,400 | |
| Northern | Gobindgarh | 24,400 | -600 | 29,000 | -300 |
| Southern | Hyderabad | 22,000 | -1,000 | 24,800 | -1,000 |
| Bangalore* | 22,200 | -1,000 | 27,800 | -800 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
Note: Prices are basic
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