Re-bar offers pushed up owing to increased gauge difference. Market participants are anticipating minor fluctuation of INR 200-300/MT in Re-bar offers.
Highlights of the previous week
North India: Re-bar offers increased by INR 500-700/MT W-o-W.
East India: Finish market remains unchanged in a week’s time except Patna & Giridih, which are increased by INR 700-850/MT W-o-W.
Central India: Re-bar prices increased by INR 650/MT in Madhya Pradesh (Indore), while it stimulated by only INR 100-200/MT in Chhattisgarh (Raipur & Raigarh).
West India: In Mumbai & Goa, Re-bar offers are kept unchanged, whereas Jalna Re-bar offers moved up by INR 300/MT W-o-W owing to expensive raw materials.
“High price of raw materials pushed up Finish long market last week, now market looks to be stable as buying is average,” said a trader based in Jalna.
South India: On one side, Re-bar prices hiked by INR 900/MT in Hyderabad, while it reduced by INR 350/MT in Chennai.
Dull demand in the peak season discouraged Indian Re-bar manufacturers, whereas increasing gauge differences are escalating Re-bar offers.
Re-bar Gauge Difference
|
New |
Old |
|
Hyderabad w.e.f – 08 Feb, 2014 |
Hyderabad |
|
Basic = 20 mm |
Basic = 20 mm |
|
8, 28, 32 mm = Basic + 2,500 |
8, 28, 32 mm = Basic + 2,000 |
|
10, 12, 16, 25 mm = Basic + 1,500 |
10, 12,16, 25 mm = Basic + 1,000 |
|
Muzaffarnagar w.e.f – 08 Feb,2014 |
Muzaffarnagar |
|
Basic = Open Price |
Basic = Open Price |
|
12mm = Basic + 4,500 |
12mm = Basic + 4,000 |
|
8mm = Basic + 7,000 |
8mm = Basic + 7,000 |
|
10mm = Basic + 5,500 |
10mm = Basic + 5,500 |
|
16, 20mm = Basic + 4,500 |
16, 20mm = Basic + 4,500 |
|
25mm = Basic + 5,000 |
25mm = Basic + 5,000 |
Note: Basic Price in INR/MT
Conversion spread from Ingot to TMT increased from Last Week
|
Region |
City |
MS Ingot |
TMT (12 mm) |
Conversion/Spread |
|
|
Conversion |
W-o-W |
||||
|
Central |
Raipur |
30,000 |
34,200 |
4,200 |
+500 |
|
East |
Durgapur |
30,450 |
33,700 |
3,250 |
+ 200 |
|
North |
Mandi Gobindgarh |
33,950 |
38,000 |
4,050 |
+ 250 |
|
West |
Mumbai |
32,300 |
35,800 |
3,500 |
0 |
|
West |
Ahmedabad |
32,450 |
36,600 |
4,150 |
+ 150 |
|
South |
Hyderabad |
32,300 |
36,400 |
4,100 |
+ 400 |
|
South |
Chennai |
32,500 |
36,800 |
4,300 |
-350 |
Note: Basic Price in INR/MT; ED, VAT & Loading Extra
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