Seconadary Re-bar prices have increased by INR 700-1,000/MT against last week prices. Improved sentiment and low inventory have given space to manufacturers for rising offers.
Secondary Re-bar manufacturers have raised the offered prices in last one week by around INR 1,000/MT in various markets such as Raipur, Mumbai, Durgapur and Bangalore. Trade volumes are also increasing in most of the markets.
Re-bar demand has been dull from the last two months owing to slowdown in construction activities and competitive rates of imported material from China.
MS Ingot/Billet prices have also moved up by INR 1,000-1,200/MT in last one week owing to low inventory, poor conversion spread and better demand.
Hike in royalty rates on Iron ore from 10% to 15% will bound steel producers to raise offers but since demand of finished Long products is not there in the market, so chances are less to pass the same cost to end-users.
Few market participants are approaching cautiously on account of sudden price rise by 3% in the last 4- 5 days. They expect that market will witness slight price correction and stabiles thereafter.
Re-bar (12 mm) Prices (INR/MT) as on 22 Aug, 2014
|
Place |
Price |
W-o-W |
Remarks |
|
Mumbai |
35,200 |
+ 700 |
Prices increased owing to low inventory levels and sudden improve in demand |
|
Raipur |
34,500 |
+ 1,000 |
Power cut of 10-12 hours continues from last 4-5 days |
|
Chennai |
36,200 |
0 |
Prices remain stable in last one week |
|
Durgapur |
33,500 |
+ 600 |
Power cut supports prices. whereas, demand is moderate |
Excise & VAT applicable
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