Indian rebar market has seen a sharp price fall during last one week.
Major price fall is recorded in Ahmedabad and Hyderabad by INR 1,000/MT followed by Raipur, Durgapur and Mumbai by INR 600/MT in the same duration.
At present, rebar prices for 12 mm material are at INR 27,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 28,500/MT in ex- Hyderabad, INR 39,800/MT in ex-Mumbai, INR 26,600/MT in ex-Durgapur.
As per the market participants, there is no major trade taking place owing to weak demand from the stockiest/ end-users. Also, due to the State elections in North India which led to low buying in these states.
Indian billet and rebar prices as on 30 Jan’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 24,050 | -500 | 27,000 | -600 |
| East | Durgapur | 23,200 | -1,300 | 26,600 | -600 |
| Western | Mumbai | 25,900 | -950 | 29,800 | -600 |
| Ahmedabad | 25,850 | -1,100 | 27,700 | -1,000 | |
| Northern | Gobindgarh | 26,900 | -900 | 31,550 | -500 |
| Southern | Hyderabad | 25,000 | -1,000 | 28,500 | -1000 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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