According to market participants, there will be no major correction in Re-bar prices; it would be stable in near terms.
Re-bar prices remain volatile as price fluctuates in the range of around INR 100-200/MT on daily basis. In some cities, prices went down by INR 200-400/MT on weekly basis, whereas in contrary to other cities prices up by INR 400-500/MT. But, presently market participants expect stability in prices.
Why Prices will remain Stable?
“Among all, 85% of market players said that market will remain stable, whereas rest 15 % believe that it will go down by INR 500-700/MT in short term”, SteelMint learned.
The comments are:
A trader (Jaipur): “Re-bar prices were stable from 4-5 days and it seems that it may be stable further.”
Re-bar Manufacturer (Ahmedabad): “Re-mar market will be constant in near terms.”
A Trader (Raipur): “Today Re-bar offers went down by 100-200/MT but we don’t see major corrections further due high raw material price.”
Traders (Mumbai and Jalna): “There will be no major correction in price; it will fluctuate marginally by INR 200-300 as demand is average in all over India,”
Re-bar manufacturer (Goa): “Re-bar market may be stable in Goa. At present sale is good in city but nearby states prices have corrected marginally, so we don’t see any major price hike further as well as no space for downfall as demand will remain firm.”
Re-bar manufacturer (Rourkela): “Conversion cost (MS Ingot to Re-bar) has increased; our stock got cleared on good demand as well as plant is running in full capacity (6000 MT/Month). There is no pressure on us for sales. I am of the view that market will sustain in this price.”
A Trader (Bangalore): “In Bangalore Re-bar prices should have to be enhanced as demand is good and other states Re-bar supply to Bangalore went down owing to local price increments in those cities. But presently, owing to halt in construction activity due to sand trader’s strike, Re-bar prices remain subdued.”
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