Medium and small scale rebar manufacturers in India, marked slight correction in the offers due to seasonal slowdown trades in the domestic market.
On 11 July, rebar prices in Central region fall by INR 200-300/MT (USD 3-5), while in North and South India it declined around INR 300-500/MT (USD 4-8), since the last day trade activities.
SteelMint’s price assessment for the day for 12mm rebar in Indian market are reported at INR 29,000-32,500/MT (USD 445-500) ex-works.
As per the market participants the pricing are fall due to the seasonal weak demand and also owing to wait and watch condition by stockiest & small traders end following uncleared market directions. Thus, the manufacturers are forced to gradually decrease their offers in order to grab orders.
Large Scale Producers:
In the start of the month, large scale producers increased their offers marginally owing to higher export offers. The offers increased approximately by INR 500/MT for 12-25MM rebars. The offers by the producers are reported at INR 33,500-34,000/MT ex-Mumbai & INR 34,500-35,000/MT ex-Delhi for 12-25 mm rebar.
Domestic 12mm Rebar Prices as on 11 Jul’17
| Region | Particular/Delivery | Taxes | Prices | D-o-D | W-o-W |
| North India | Ex-Delhi/NCR | Basic Prices, GST @ 18% Extra | 32,500 | – 500 | -800 |
| Ex-Mandi Gobindgarh | Basic Prices, GST @ 18% Extra | 33,100 | 0 | -500 | |
| East India | Ex-Durgapur | Basic Prices, GST @ 18% Extra | 29,200 | 0 | -500 |
| Central India | Ex-Raigarh | Basic Prices, GST @ 18% Extra | 29,300 | – 200 | -600 |
| Ex-Raipur | Basic Prices, GST @ 18% Extra | 29,600 | – 200 | -900 | |
| West India | Ex-Ahmedabad | Basic Prices, GST @ 18% Extra | 29,400 | 0 | 0 |
| Ex-Goa | Basic Prices, GST @ 18% Extra | 31,000 | 0 | 0 | |
| Ex-Jalna | Basic Prices, GST @ 18% Extra | 30,000 | 0 | -200 | |
| Ex-Mumbai | Basic Prices, GST @ 18% Extra | 30,600 | 0 | -300 | |
| South India | Ex-Bangalore | Basic Prices, GST @ 18% Extra | 32,500 | – 500 | -100 |
| Ex-Chennai | Basic Prices, GST @ 18% Extra | 31,500 | 0 | 0 | |
| Ex-Hyderabad | Basic Prices, GST @ 18% Extra | 30,300 | – 300 | -700 |
Basic Ex-Works prices in INR/MT
Source: SteelMint Research
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