India: Re-bar Market went down by Rs 300-1,100/MT (W-o-W)

In most of the cities in India Re-bar prices have come down by around Rs 300-1,100/MT in last one week.

Limited booking from the local market and other states for Re-bar due to heavy rain fall in cities and negative sentiment with falling raw material prices are the main reasons of this downward trend.

At Durgapur 12mm TMT is traded at Rs 35,500/MT less by Rs 800/MT in last one week. In the same period TMT of Raipur has come down by Rs 400/MT just half of the price due to a rumor of 8-10% increment in CG Power Tariff. 12mm TMT is traded at Rs 34,900/MT.

Similarly in Maharashtra, Re-bar prices have come down by Rs 300/MT in last one week due to heavy rain fall. At Mumbai 12mm TMT is being traded at Rs 37,500/MT less by Rs 300/MT in last one week.

Along with this in North India, finished steel market went down by Rs 500-1,100/MT in a week after a revision of Rs 500 in size difference at Jaipur and Muzaffarnagar. 12mm is traded at Rs 39,900/MT in Muzaffarnagar and at Rs 39,700/MT in Jaipur.

All Prices are Inclusive of VAT.