- BF-route rebar prices rise as maintenance-led supply tightness boosts buying and sentiment
- Improved buyer procurement and restocking support firmer market sentiment and prices
India’s trade-level BF-route rebar prices increased by INR 1,000/t ($10/t) w-o-w to INR 52,000/t ($546/t) ex-Mumbai, according to BigMint’s assessment on 7 August. Trading activity improved during the week as buyers resumed procurement amid strengthening market sentiment.
Market sentiment remained firm as scheduled maintenance at major integrated steel plants tightened spot availability and reduced distributor inventories. The supply-side constraints supported higher rebar prices, while buyers increased stock replenishment in anticipation of further price firmness.
Project rebar prices were reported in the workable range of INR 52,000-53,000/t ($546-557/t) landed. Demand improved during the week, supported by increased procurement from project customers and higher booking activity. Buying interest strengthened on expectations of stable-to-firm prices and a gradual recovery in construction activity.
- 1.IF-route rebar prices rise across most markets:IF-route rebar prices increased by INR 100-1,000/t across most major markets during the week. Jalna and Durgapur were the only exceptions, with prices declining by INR 400/t and INR 200/t, respectively.The steepest increase was recorded in Delhi, primarily due to limited availability from nearby markets such as Muzaffarnagar and Ghaziabad, where operations remained affected by local festival-related closures. The supply tightness enabled Delhi-based mills to raise their offer prices.Buying activity remained moderate during the early part of the week but weakened in the latter half, resulting in lower enquiries and booking levels. Despite slower demand, mills largely maintained revised price levels, supported by restricted supply.Mill inventories remained at around 10-15 days, while order-book visibility was limited to 3-5 days, indicating continued need-based procurement.
Meanwhile, the BF-IF rebar price spread in Mumbai wider further w-o-w to around INR 5,600/t ($59/t). IF-route rebar continues to dominate the Indian market, accounting for an estimated 65-70% share.
- 2.Raw material prices mixed-Key BF-route raw materials recorded mixed price trends during the week. BigMint’s Odisha iron ore fines (Fe 62%) index increased by INR 100/t w-o-w to INR 6,000/t ($63/t) ex-mines as of 6 August, supported by steady trading activity and stable demand from steelmakers.In contrast, BigMint’s premium hard coking coal (PHCC) assessment remained stable w-o-w at $236/t CNF Paradip.
Project updates
Infrastructure award activity remained broad-based across North, West, East and South India, with particularly large orders concentrated in offshore energy, renewable energy, metro/urban infrastructure and steel-sector expansion. The L&T Energy Hydrocarbon-ADNOC order of over ₹15,000 crore was the largest among the reported awards, followed by Inox Wind’s ~₹1,600 crore wind project and L&T’s ₹1,234 crore Noida Aqua Line extension. The projects indicate continued investment in urban infrastructure, transportation, power distribution, industrial capacity and energy transition, supporting potential downstream demand for steel, cement and construction materials.
Outlook
Rebar prices are expected to remain firm in the near term, supported by scheduled maintenance at major steel plants, tighter spot availability and improving buyer restocking. However, demand remains uneven, particularly in the IF-route segment, with limited order-book visibility likely to restrict aggressive price increases.
Continued supply tightness, raw-material costs and the pace of construction activity will remain key factors influencing the market in the coming week.
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