In the Week opening, a boom has been seen in rebar market as prices rose across all major Indian markets. prevailing Positive sentiments amid better demand, strengthened rebar prices.
Presently, the offer price for 12 mm rebar by manufacturers are assessed – at INR 27,100/MT(+300) ex-Raipur, INR 28,500/MT (+200) ex- Hyderabad, INR 29,600/MT(+50) ex-Mumbai & INR 26,400/MT ex-Durgapur (+100) (basic price, excise duty, VAT/CST extra).
The manufacturers in Raipur, Central India & Durgapur in East region, reported about nil inventory for rebar. They added “there is no need to push sells as deals are easily taking place on the quoted price.”
Similarly in Mumbai, Western India where the prices increased by INR 100/MT to INR 29,300/MT for 12 mm rebar. In the last week-end as well a surge was seen by INR 100-200/MT. The trade sources in the market reported better demand on increased prices.
A Bangalore based manufacturer stated that there is less possibility of decrease in prices in the region because doing so might incur them losses for the product and keeping the prices stable in future.
12 mm Rebar prices as on 13 Feb’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W |
| North India | Ex-Delhi/NCR | 29,500 | + 250 | – 600 |
| Ex-Mandi Gobindgarh | 30,850 | + 250 | – 350 | |
| East India | Ex-Durgapur | 26,300 | + 100 | – 100 |
| Central India | Ex-Indore | 29,500 | 0 | – 200 |
| Ex-Raigarh | 27,050 | + 250 | + 150 | |
| Ex-Raipur* | 27,100 | + 300 | + 300 | |
| West India | Ex-Ahmedabad | 27,100 | + 200 | – 100 |
| Ex-Goa | 28,250 | 0 | – 50 | |
| Ex-Jaipur | 28,200 | 0 | – 500 | |
| Ex-Jalna | 28,500 | 0 | – 200 | |
| Ex-Mumbai | 29,250 | + 50 | – 350 | |
| South India | Ex-Bangalore | 29,300 | 0 | – 400 |
| Ex-Chennai | 27,600 | + 100 | – 400 | |
| Ex-Hyderabad | 28,200 | + 200 | – 300 |
Basic prices in INR/MT
Source: SteelMint Research
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