Re-bar prices in western region have increased by INR 1,000-1,500/MT owing to increase in Ingot prices. Whereas, offers in others market have risen marginally.
In western region (Mumbai & Jalna), increase in Ingot & Billet prices has compelled Re-bar mills to increase their prices. However, volumes are thin in the current market. Moreover, most of the Re-bar units are still running at single shifts in the same region and mills are not ready to run in full shift until demand improves.
Currently, secondary Re-bar of 12 mm in Mumbai & Jalna is trading at INR 35,200/MT and INR 35,000/MT respectively; both ex-plant and excise& VAT extra.
Billet prices in Mumbai & Jalna had also increased by INR 1,000-1,500/MT and currently, both are trading at the same price of INR 32,000/MT ex-plant.
Currently, Ahmedabad is offering 12 mm Re-bar at INR 34,400/MT ex-plant. However, due to low Re-bar prices in Raipur, viability has increased from Raipur to Ahmedabad last week . Raipur is currently trading 12 mm Re-bar at INR 33,700/MT.
Re-bar prices in North market are volatile owing to huge fluctuation in Mandi Ingot prices from the last 1-month. However, prices in South are almost stable in the same period because of slow buying from the end users.
According to one of the manufacturer based at Mumbai, “Currently, there are limited sales of Re-bar and we are running at single shifts only. But, we expect market to improve in the upcoming days.”
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