Indian rebar market has seen a hike in prices up to INR 500/MT with the increase demand inline with the rising Billet prices.
The 12 mm rebar offer prices in major markets are assessed at INR 29,400/MT ex-Raipur(+300), INR 32,250/MT(+150) in Mandi Gobindgarh, INR 28500/MT(+500) in Durgapur, INR 30,200/MT(+500) ex-Jalna, INR 30,500/MT (+300) ex-Chennai & INR 30,000/MT (+500) ex-Hyderabad. Prices are basic and changes mentioned are D-o-D (against last day) trade basis.
As per market participants in East India, Durgapur, Holi is the matter of concern, although looking at the current sales scenario post U.P elections, it seems that prices may surge again due the expected boost in demand.
Similarly in Raipur, Central India, the sources added that, the billet prices are strong also their is good demand in rebar so the rebar prices are also expected to be on rising mode. On d-o-d Raipur billet prices gain by INR 200/MT.
Domestic Rebar Prices as on 7 Mar’17
| Place | 12MM | 8MM | 10MM | 16MM | 20MM | 25MM | 28MM | 32MM |
| Ahmedabad | 29,500 | 31,700 | 30,400 | 29,500 | 29,100 | 29,500 | 29,500 | 30,400 |
| Bangalore | 31,800 | 32,200 | 31,800 | 31,800 | 32,000 | 32,000 | 31,800 | 33,200 |
| Chennai | 30,500 | 32,000 | 30,500 | 30,500 | 30,500 | 30,500 | 30,500 | 31,500 |
| Delhi/NCR | 31,550 | 32,350 | 31,850 | 31,550 | 31,550 | 31,550 | 25,350 | 31,850 |
| Durgapur | 28,500 | 30,200 | 29,200 | 28,000 | 29,000 | 29,000 | 29,500 | 29,500 |
| Hyderabad | 30,500 | 31,500 | 30,500 | 30,500 | 30,500 | 30,500 | 28,500 | 31,500 |
| Jalna | 30,200 | 31,200 | 30,200 | 30,200 | 30,200 | 30,200 | 28,400 | 31,200 |
| Mandi Gobindgarh | 32,250 | 33,850 | 33,250 | 32,950 | 32,950 | 33,250 | 33,650 | 33,850 |
| Mumbai | 31,200 | 31,600 | 31,200 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 |
| Raipur | 29,400 | 30,200 | 29,400 | 29,400 | 29,400 | 29,400 | 27,200 | 30,200 |
Basic Ex-Works Price. Excise Duty, Loading and Taxes Extra
Source: SteelMint Research
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