India – Domestic Rebar Prices Move Up Amid Hike in Billet Prices

Indian Rebar market has observed positive outlook over strengthened prices of raw material (Billet) by INR 700-1,500/MT (USD 10-22) from past 3-4 days in specified regions.

Today, the Rebar price range have been stretched by INR 700-900/MT by medium/small mills in major rebar producing markets i:e; Raipur & Jalna. As per trade participants sufficient trade volume has been booked which might prevent considering selling pressure for near term.

Further, the Rebar producers have mentioned, stockiest have procured adequate volume as they were running with low inventories from past couple of weeks.

Trade Updates

— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by around INR 1,000/MT on day basis and offering 28 mm rebar at INR 35,800/MT, ex-work, & excluding GST.

— Central region, Raipur based brand – SPEED TMT has increased their price by INR 600/MT on day basis and current offering at INR 34,600/MT (28 mm), ex-work & excluding GST.

— North region based Rathi Steels have lifted their prices by INR 500/MT on day basis and current offering at INR 40,200/MT, size – 12 mm & excluding 18% GST.

— Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 500/MT on day basis and current offering 28 mm rebar at INR 34,700/MT, ex-work & excluding GST.

— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has increased their price range by around INR 800/MT & current offering basic rebar 28 mm at around INR 35,800/MT, ex-work & excluding GST. As per official view market should get sustain for near term as demand seems improved.

— Gujarat based Shreeyam Power & Steel Industries Ltd increased their prices by INR 300/MT on day basis and offering TMT at INR 45,300/MT FoR & including GST at 18%, Size – 20 mm.

— East region based – Baba Smelter Pvt. Ltd has increased their Structure offers by around INR 500/MT & current (125,150 Channel) offering at INR 38,250/MT, ex-work, excluding GST.

— Gujarat based Akshar TMT has increased their offers by around INR 500/MT on day basis & current offering rebar at INR 45,800/MT FoR & including GST at 18%, Size – 20 mm.

— Kalika Steel Alloys in Jalna increased their prices by around INR 600/MT d-o-d basis & current offering 28mm rebars at INR 36,000/MT ex-plant & excluding GST.