Re-bar prices corrected almost Rs 2,000/t in last few weeks across India.There is something to cheer about for mills in Central and Western India as some demand is seen from Southern part of the country.
” Prices should stabilize looking at current demand from South, we have noticed prices moving up in Mumbai, Goa and Hyderabad.With scarcity of raw material buyers in South are procuring from Western and Central India.” said an industry veteran.
Current offers for re-bar is around Rs 34,200-34,500/t (Basic, 12mm, Ex- Raipur), where as Mumbai has inched up to Rs 35,400-35,600/t (Basic, 12mm, Ex- Mumbai) and Goa in the range of Rs 36,400-36,500/t (Basic, 12mm, Ex- Goa).
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