Indian Rebar manufacturers are repeatedly increasing their prices with the good demand which is supported by rigorous increase in Ingot/Billet Prices.
On D-o-D rebar prices surge by INR 200-700/MT and offers for 12mm Rebar reported – at INR 31,500/MT ex-Raipur, INR 33,300/MT ex-Delhi, INR 30,300/MT Ex-Durgapur, INR 31,900/MT Ex-Mumbai and INR 32,500/MT ex-Hyderabad.
According to the market participants the inventories are low which is also supporting the spike in rebar prices.
One of the trade participant based in Bangalore stated that “there are few mills which are under maintenance which is not fulfilling the demand and supply chain even though there is a good demand.”
The same scenario is with eastern and central regions of India where in there is no inventories available with the manufacturers and stockist.
The market participants are also stating that this is the peak construction season and demand for rebar usually soars during this time of the year.
The rebar export deals also analyzed by Ahmedabad, West & Chennai, South India based renowned manufacturers at the price range of USD 510-520/MT FOB for South East Asian countries. The manufacturers has also exported billet to the same destination at USD 410-420/MT FOB basis.
12mm Domestic Rebar Prices as on 22 Mar’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W | M-o-M |
| North India | Ex-Delhi/NCR | 33,300 | +200 | -300 | +3,000 |
| Ex-Mandi Gobindgarh | 33,600 | +400 | +400 | +2,100 | |
| East India | Ex-Durgapur | 30,300 | +600 | +200 | +2,900 |
| Central India | Ex-Indore | 33,500 | +400 | +600 | +3,000 |
| Ex-Raigarh | 31,100 | +400 | +300 | +2,850 | |
| Ex-Raipur | 31,500 | +500 | +800 | +3,300 | |
| West India | Ex-Ahmedabad | 30,400 | 0 | +100 | +1,900 |
| Ex-Goa | 32,300 | +200 | 0 | +2,500 | |
| Ex-Jaipur | 31,500 | +600 | 0 | +1,400 | |
| Ex-Jalna | 31,400 | +400 | +600 | +2,200 | |
| Ex-Mumbai | 31,900 | +150 | -100 | +1,600 | |
| South India | Ex-Bangalore | 34,500 | +700 | +100 | +3,300 |
| Ex-Chennai | 32,900 | +500 | +900 | +3,600 | |
| Ex-Hyderabad | 32,500 | +500 | +500 | +3,000 |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
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