India: Maharashtra Re-bar Prices under Pressure on Weak Demand

Maharashtra Secondary Re-bar prices in Maharashtra have declined by almost INR 1,000/MT on sluggish demand.

Secondary Re-bar prices in Maharashtra (Mumbai) have been continuously falling from last 15 days owing to weak demand from the construction sector in almost all the regions. Currently, prices in Mumbai & Jalna are at INR 34,700/MT & INR 35,600/MT (12 mm) respectively, which is down almost by INR 1,000-1,200/MT from the starting of the month. Prices in Goa declined by INR 600/MT and offering at INR 37,300/MT (12 mm).

 Price Correction expected in July on account of following reasons:

• Monsoon will hamper construction work
• Supply increases  from China
• Inventory increases

According to industry sources, 10,000-12,000 MT of Re-bar (Fe 500D) is likely to get imported from China, which will be landed at Mumbai port in next month. This results in further price correction of INR 700-1,000/MT in near future, while prices are yet to be declared for imported Re-bar.

MS Ingot & TMT Price Change of Maharashtra in July, 2014

*MS Billet price change