Domestic Rebar prices continue to surge over active trades and low inventories in the rolling mills based in Central, East, South & Western India. On D-o-D, offers surge by INR 100-700/MT & W-o-W by INR 600-1,900/MT .
The purchase sources in the respected regions have mentioned delay in loadings due to shortage of ready stock.
Similarly, trade participants stated that the demand is significantly rising . They also said that, increasing raw material prices in same proportion is making strong sentiments in the market. Thus, trade activities are supported.
A Western based standalone rolling mill operator mentioned ‘’As margins (conversion spread) are less, there are chances for further supportive prices and very little chances for backward trend.”
In Durgapur, East India a 900 TPD rebar manufacturer cum Integrated plant owner added “buyers are more aggressive on increasing prices too and they are booking material as usual.”
In Raipur, Central India, a Large scale rebar trader who deals about 10,000-15,000 MT every month reported ‘’active purchase by small traders and those sales are directly to end user segment.”
12 MM Rebar prices as on 20 Feb’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W |
| North India | Ex-Delhi/NCR | 31,000 | + 400 | + 1,500 |
| Ex-Mandi Gobindgarh | 31,500 | + 100 | + 650 | |
| East India | Ex-Durgapur | 27,500 | + 400 | + 1,200 |
| Central India | Ex-Indore | 30,300 | 0 | + 800 |
| Ex-Raipur | 28,400 | + 500 | 1,300 | |
| West India | Ex-Ahmedabad | 28,400 | 0 | + 1,300 |
| Ex-Goa | 29,100 | 0 | + 850 | |
| Ex-Jaipur | 29,600 | + 600 | 1,400 | |
| Ex-Jalna | 29,400 | + 400 | + 900 | |
| Ex-Mumbai | 30,300 | + 200 | + 1,050 | |
| South India | Ex-Bangalore | 31,200 | + 700 | + 1,900 |
| Ex-Chennai | 28,900 | + 200 | + 1,300 | |
| Ex-Hyderabad | 29,000 | 0 | + 800 |
Basic prices in INR/MT
Source: SteelMint Research
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