Indian rebar manufacturers based in Chennai and Hyderabad, South India has kept their rates stable in last couple of days whereas in Central and North India there is slight fall in prices about INR 100-200/MT.
According to one of the manufacturer in Chennai stated that now there are less expectation about significant price rise in the coming days and the supply of rebar is more to other states as there is no new State Government project going so the demand is less locally within the state.
Currently, 12mm rebar prices in Chennai and Hyderabad stood at around INR 27,500/MT and INR 28,000/MT respectively. All prices are basic.
In the North and Central the prices are slightl fall in prices as there are election going on and the demand will increase gradually in coming days. Market participants anticipate that there will be slight price fluctuation seen in the mandis in coming days.
Although, there is no major price movement seen in other Indian rebar market during the same duration.
Indian Rebar prices as on 11th Feb
| Region | City | 11th Feb | 10th Feb | 9th Feb | 8th Feb | 7th Feb | 6th Feb |
| Central | Raipur | 26,800 | 26,900 | 26,800 | 27,000 | 27,000 | 26,800 |
| Western | Mumbai | 29,200 | 29,000 | 29,100 | 29,100 | 29,300 | 29,600 |
| Northern | Gobindgarh | 30,600 | 30,700 | 30,750 | 31,200 | 31,300 | 31,200 |
| Southern | Chennai | 27,500 | 27,500 | 27,500 | 27,500 | 27,500 | 28,000 |
| Eastern | Durgapur | 26,200 | 26,200 | 26,200 | 26,300 | 26,500 | 26,400 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
Leave a Reply