Indian rebar manufacturers has increased offers by INR 600-1,500/MT since the starting of the current month. The prime reason behind price surge is because of rise in ingot/ billet prices and it is expect to revive in demand from the end-users.
At present, rebar producers are offering 12 mm material in the range of INR 24,500-25,000/MT in ex-Raipur, INR 26,400/MT in ex- Hyderabad, INR 27,100/MT in ex-Mumbai. INR 24,100/MT in Durgapur. All prices are basic.
Rebar price gap between large manufacturers like RINL, JSW steel and small manufacturers are also widened by about INR 4,000/MT which led to further scope for small manufacturers to increase their prices.
Currently, small rebar manufacturers in Chennai are offering at around INR 30,000/MT (excise duty included & other taxes extra) for 12mm while large manufacturers are offering the same size material at INR 34,000-34,500/MT in the same location.
A well know rebar manufacturer based in Mumbai stated, “rebar prices are sharply on increase in the last few days but we are uncertain whether market will accept the increased prices as demand is not up to the expectation”.
Indian billet and rebar prices as on 7 Nov’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,300 | +1,300 | 24,400 | +900 |
| Eastern | Durgapur | 21,900 | +400 | 24,100 | +600 |
| Western | Mumbai | 23,700 | +800 | 27,100 | +1,100 |
| Ahmedabad | 23,700 | +900 | 24,800 | 0 | |
| Northern | Gobindgarh | 24,900 | +800 | 29,000 | +800 |
| Southern | Hyderabad | 23,500 | +1,250 | 26,400 | +1,500 |
| Bangalore* | 23,200 | +1,300 | 28,500 | +1,400 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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