Indian rebar manufacturers has decreased offers by INR 200-300/MT d-o-d in line with the fall in ingot/ billet prices.
Currently, 12mm rebar prices in Mumbai, Raipur and Hyderabad stood at around INR 30,000/MT, INR 27,200/MT and INR 28,700/MT respectively. All prices are basic.
A well known manufacturer based in Mumbai shared that finish long steel prices are under pressure due to sharp fall in the Imported Scrap Offer. Although the demand of Rebar is continue to remain average.
Another Rebar manufacturer based in Raipur said that the outstation demand of Rebar is not very active especially for North India as elections are to be held in starting of Feb’17.He added buyers have hold the bulk buying due to budget announcement next week.
Indian billet and rebar prices as on 27 Jan’ 17
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 24,400 | -150 | 27,200 | 0 |
| Western | Mumbai | 26,300 | -200 | 30,000 | -200 |
| Jalna | 25,900 | -100 | 29,200 | -300 | |
| Northern | Gobindgarh | 27,600 | -100 | 37,500 | -300 |
| Southern | Hyderabad | 25,500 | +500 | 28,700 | -300 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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