In second day of the week there has been a positive sentiments prevailing in the Finish Long market and there has been a price hike seen in the range of INR 200-500/MT in just a day.
The major hike is seen in Delhi (North Region) which is around INR 500/MT and stood at INR 30,000/MT, in Raipur (Central Region) of INR 400/MT (INR 27,500/MT) and in Mumbai of INR 300-400/MT (INR 29,600/MT). All are basic prices of 12mm Rebar.
Other Major Markets have also seen a hike. Currently, 12mm Rebar prices of other various places are assessed, Ex-Durgapur at INR 26,600/MT (+300) , Ex-Mandi Gobindgarh INR 31,050 (+200) and Ex-Ahmedabad INR 27,300/MT (+200). All the prices are basic.
A Mumbai based manufacturer stated that there is some improvement in demand and moreover, the healthy reason behind the increase in prices is due to sharp price hike in the international market for Scrap & Iron ore which is creating positive sentiments in Domestic market.
Another Raipur based manufacturer whose per day capacity for rebar is around 500 MT reinstated that “there is a good demand for Rebar in the local market and are expecting a hike in coming days.”
Although there is a marginal hike in the South Market, which is due to the healthy inquires coming to their desk, as stated by one of the Banglore based Manufacturer.
Indian Rebar prices as on 14th Feb’17
|
Region |
City | 14th Feb | 13th Feb | 11th Feb | 10th Feb | 9th Feb | 8th Feb |
7th Feb |
| Central | Raipur | 27,500 | 27,100 | 26,800 | 26,900 | 26,800 | 27,000 | 27,000 |
| Western | Mumbai | 29,600 | 29,250 | 29,200 | 29,000 | 29,100 | 29,100 | 29,300 |
| Northern | Gobindgarh | 31,050 | 30,850 | 30,600 | 30,700 | 30,750 | 31,200 | 31,300 |
| Southern | Chennai | 27,600 | 27,600 | 27,500 | 27,500 | 27,500 | 27,500 | 27,500 |
| Eastern | Durgapur | 26,600 | 26,400 | 26,200 | 26,200 | 26,200 | 26,300 | 26,500 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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