Trading volumes in finished steel was low from last three to four days but demand now seem to have been improving in smaller quantities
“Mumbai Re-bar demand is low. 300-350 tons that were being sold yesterday have come down to 200-250 tons today. Re-bar trades at Rs 40,300/MT, down by Rs 200/MT,” remarked manufacturers in Mumbai.
“Pune Re-bar prices are anticipated to correct by around Rs 1,000/MT in near term as demand is not picking up. Re-bar is offered at Rs 41,400/MT (Basic),” said a Pune based manufacturer.
“Goa TMT prices are trading unchanged at Rs 41,000/MT (Basic). Around 250 tons of material is sold today,” said sources.
“Jalna Re-bar prices remain stable on slow demand. Today, Re-bar in Jalna is being quoted at Rs 40,300/MT (Basic),” said a Jalna based trader.
“Ahmedabad prices are expected to either stabilize or fall further due to low trading volumes. Re-bar trades unchanged at Rs 40,000/MT (Basic),” remarked a manufacturer in Ahmedabad.
“Indore Re-bar demand looks fine. It was reported that a large TMT player booked close to 500 tons of TMT order yesterday. Prices are quoted unchanged at Rs 41,650/MT (Basic).
Bookings are expected to start again on Monday only as there will be loading problems due to labour shortage,” said an Indore based trader.
Market players expect demand demand to improVe in near term.
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