“Rebar trading prices in Raipur were likely to go up but have shown a downtrend. Market is unpredictable at this point of time and is expected to show direction on Monday only.
Raipur Re-bar prices should show some further correction as per buyers expectation in South. Market in South is not able to meet the demand of buyers who are dependent on Raipur, quoting cheaper prices.
Re-bar manufacturers across India cut their offers on weak demand and slow off-take due to closing of financial year and festive season which would continue for another week,” said a broker based in Raipur.
Raipur manufacturers cut their 12 mm Re-bar offers by Rs 400/MT to Rs 39,000/MT (Basic prices) whereas stockists are quoting at Rs 38,800/MT for the
same size,” said a broker based in Raipur.
excise duty and also because of the electricity consumption rates going up. 12 mm Re-bar in Mandi Gobindgarh is being offered at Rs 40,900
(Ex works),” remarks a trader from Mandi.
Re-bar prices in Chennai and Hyderabad remain unchanged on stable demand
but demand is expected to improve next week if prices correct further. 12 mm Re-bar
in Chennai trades at Rs 47,200/MT (Basic prices).
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