Indian Re-bar offers moved down upto INR 600/MT in a week’s time. However, offers increased by INR 100-200/MT in a few places. Market participants believe that elections led to low demand. They are anticipating minor fluctuation of INR 200-500/MT in Re-bar offers.
Highlights of Previous Week
East India: Finish Long market decreased by INR 400/MT and INR 600/MT in Durgapur & Rourkela respectively.
“Sales volume is low due to general elections,” said a TMT manufacturer based at Rourkela.
West India: In Goa, Re-bar offers are kept unchanged, whereas in Mumbai & Jalna, Re-bar offers moved down by INR 200/MT W-o-W owing to dull demand.
South India: Re-bar prices slashed by INR 100/MT in Hyderabad, while it declined by INR 600/MT in Bangalore. Chennai offers remain unchanged from last one week on stable semi finish prices.
Central India: On one side, Re-bar prices reduced by INR 200-550/MT in Chhattisgarh (Raigarh & Raipur), on the other, it stimulated by INR 150/MT in MP (Indore).
North India: MS Ingot offers escalated by INR 200-500/MT, however Re-bar prices increased by INR 200/MT W-o-W.
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