Rebar price remain firm w-o-w in major cities. As seen in previous years the pre-monsoon season usually witnesses a rise in demand for steel, however steel long participants witnessing moderate demand. Price remain same over last week price.
In Central India, Raipur re-bar prices is trading at Rs 32,200/MT (Basic), Rs 38,000 (Inclusive all) demand from M.P and South Maharashtra is being witnessed. Trader believe price to remain firm or range bound over high raw material cost and limited production.
Similarly to the general trend, South India market price remain firm as Chennai 12MM prices is trading at Rs 41,400/MT (Inclusive all) and Bangalore at Rs 41400/MT. Its been herd SAIL has increased the Re-bar price by Rs 500/MT as its 12mm is trading at Rs 44,500/MT
Maharashtra trade activities remained low as trader offered discount of Rs 200-300/MT over offered price. 12MM TMT is trading at Rs 34,000/MT (Basic) Rs 40100/MT (Inclusive all).
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