Improved demand from retail counters and low inventories have helped re-bar manufacturers to raise their offers up to Rs 400-500 per tonne in last 2-3 days said market sources.
“Demand is good, specially from retail counters. Re-bar prices have gone up to Rs 400-500 per tonne. Current offers for 12mm stands at Rs 31500-600/t (Basic, Ex-works Raipur) which touched a low of Rs 31,000-31,200/t few days back.Most of re-rollers are still running at low capacity, which has tightened supply factor. We feel prices have bottomed out and anticipate prices to improve in December- January.” said a re-bar trader based in Raipur (Chattisgarh).
Leave a Reply