Rebar offers have fallen by around INR 500-700/MT in major Indian market except South, which remained stable this week.
Buying seems to be low in major Indian Rebar market, as a result, offers have fallen by INR 500-700/MT in last one week. Market participants are expecting Rebar prices to remain under pressure in the near future as demand is still not picking up.
In Raipur (Central India), Rebar manufacturers have liquidated their stock, which were piled up in the starting of the current month. This has led to decline in prices by INR 400-600/MT in last two weeks.
In South, Rebar market didn’t witness any major changes in last two weeks owing to stability in semi finish prices coupled with limited trading activities.
As per sources, “few primary producers are offering Billet lower by INR 500-1,000/MT as compared to secondary Billet manufacturers in South India”.
Indian Billet & Rebar Prices
| Region | City | Billet Price | W-o-W change | Rebar Price # | W-o-W change |
| Central | Raipur | 26,900 | – 500 | 30,400 | – 400 |
| Eastern | Durgapur | 27,450 | – 500 | 30,100 | – 500 |
| Western | Ahmedabad | 28,000 | – 550 | 31,200 | – 700 |
| Mumbai | 28,700 | – 600 | 31,700 | – 600 | |
| Northern | Mandi Gobindgarh | 30,850 | – 550 | 35,400 | – 100 |
| Southern | Hyderabad | 27,500 | 0 | 30,300 | – 200 |
| Chennai | 28,150 | + 50 | 32,000 | + 200 |
Basic prices as on 17 Apr’15, #12 mm
Excise duty & CST/VAT extra
Source: SteelMint Research
Note: Prices are on ex-plant basis; excise duty & other taxes extra.
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