Indian rebar manufacturers in secondary market kept their offers firm during previous week. However, demand seems to be quite weak in domestic market.
At present, rebar producers in secondary market are offering 12 mm material at INR 25,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 27,500/MT in ex- Hyderabad, INR 27,000/MT in ex-Mumbai, INR 24,800/MT in ex-Durgapur.
In general, January- March is the peak time for construction activities and demand of rebar is expected to pick slowly in the coming days which will reflect in the prices too.
A well known manufacturer based in Raipur reported that, “As demand is not encouraging in domestic market, so we had sold one rake of TMT to Nepal in the past week”.
Indian billet and rebar prices as on 12 Dec’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,300 | 0 | 25,000 | +100 |
| East | Durgapur | 22,500 | +300 | 24,800 | +100 |
| Western | Mumbai | 24,000 | +100 | 26,900 | -300 |
| Ahmedabad | 24,100 | +200 | 26,200 | +200 | |
| Northern | Gobindgarh | 26,000 | +100 | 30,400 | +500 |
| Southern | Hyderabad | 23,500 | 0 | 27,500 | +300 |
| Bangalore* | 23,300 | -200 | 29,000 | -600 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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