Indian domestic rebar prices have substantially increased in the past week across the country from INR 200-1,600/MT.
Rise in billet prices amid demand for rebar , which is due favor of the manufacturers and traders. Hence, the prices constantly surge during the week.
Further the gauge parity was also revised on 24th March’17 in Durgapur, West Bengal, in order to maintain the high input cost and to take better margins.
Quotes for the Week
In Raipur, Central India one of the manufacturer whose mill produces rebar at approx 400 MT per day stated that, the demand was satisfactory in the beginning of the week but gradually declined in the week end. Major reason anticipated was the approaching weekend for the decline in the demand. Further he also added that the Madhya Pradesh is the prime location where in the material is exported from Raipur.
Another manufacturer in Durgapur, Eastern Region stated that the plants are running full-fledged in order to meet the demand prevailing in the market. He also stated that the conversion is also affirmative from billet to rebar which are forcing the manufacturers to give their full production in order to extract the maximum profit.
Outlook for the week 14
Industry participants mentioned, as in the weekend demand was mute in the few parts of India (North, West & Central India), prices will remain volatile further on anticipation of subdued trade activities.
12mm Rebar Prices as on 25 Mar’17 (Week 13)
| Region | Particular/Delivery | 18th Mar’17 | 25th Mar’17 | W-o-W |
| North India | Ex-Delhi/NCR | 33,400 | 33,800 | +400 |
| Ex-Mandi Gobindgarh | 33,300 | 34,000 | +700 | |
| East India | Ex-Durgapur | 29,800 | 31,400 | +1,600 |
| Central India | Ex-Indore | 33,000 | 34,000 | +1,000 |
| Ex-Raigarh | 30,600 | 31,700 | +1,100 | |
| Ex-Raipur | 30,900 | 32,100 | +1,200 | |
| West India | Ex-Ahmedabad | 30,200 | 30,400 | +200 |
| Ex-Goa | 32,300 | 33,300 | +1,000 | |
| Ex-Jaipur | 30,900 | 32,000 | +1,100 | |
| Ex-Jalna | 31,000 | 32,000 | +1,000 | |
| Ex-Mumbai | 31,800 | 32,000 | +200 | |
| South India | Ex-Bangalore | 34,300 | 35,200 | +900 |
| Ex-Chennai | 31,750 | 33,100 | +1,350 | |
| Ex-Hyderabad | 32,000 | 33,000 | +1,000 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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