Indian Finish Long Steel – Rebar market is showing positive sentiments amid reports good response from the market. As per SteelMint assessment, medium/small scale mills have increased their price range by around INR 200-800/MT (USD 3-12), day-on-day basis.
Finish Long Steel market has absorbed improved response & moving on the positive direction in specified regions as market participants anticipating that increased prices would sustain over rise in semi finished especially billet prices. Also, few commodities under finish long i:e; Pipe & Wire Rod reported average demand from past mid week but certainly improved from last couple of days.
On daily assessment, North Region based medium scale producers have hiked Rebar price range by around INR 600-800/MT on better realizations and to maintain accountable sales amid corrective measures taken by govt officials recently to prevent unaccountable sales reported by market sources.
According to SteelMint price assessment, today the offers by medium mills for 500 Fe grade rebars (size 12-25 mm) are reported – at INR 40,400-40,600/MT (+400) ex-Raipur, INR 41,050-41,250/MT (+250) ex-Durgapur, INR 40,600-40,700/MT(+200) ex-Mumbai, INR 40,500-40,700/MT(+500) ex-Hyderabad, INR 40,200-40,400/MT (0) ex- Ahmedabad, INR 40,900-41,100/MT (+200) ex-Jalna & INR 42,500-42,700/MT (+700) in Delhi. The changes mentioned above are day-on-day basis.
Trade Updates
1. Real Ispat & Power offers, Rebar (GK TMT) has increased their prices by around INR 400/MT d-o-d basis & current offering Rebar (10-25 mm) at INR 42,500/MT ex-plant, Raipur. According to the officials demand is improved from last couple of days and as per current scenario price level get sustain at these offer prices.
2. North Region based – Rathi Steels, known as price trend setter for Northern India has increased their Rebar price by around INR 800/MT and currently offered 12 mm at INR 43,800/MT, ex-Delhi.
3. Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT enhanced by around INR 200/MT d-o-d basis & current offering basic Rebar at INR 38,600/MT, ex-work & excluding GST.
4. Gujarat Based, Keyur Ispat Ltd has unchanged their prices today & presently offering basic Rebar at INR 48,400/MT FoR & including GST at 18%, Size – 20 mm & Billet at around INR 37,300/MT excluding GST.
5. East Region Based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 41,200/MT & Rebars basic at INR 40,000/MT (16mm), ex-work, excluding GST.
6. Jalna based Kalika Steels increased their prices by around INR 200/MT over better inquiries and current basic Rebars at INR 38,800/MT. As per official’s conversation buying inquiries were slightly slow in last mid week and anticipating market demand will exist & doesn’t come with major correction as per current movement.
7. West region- Maharashtra based – Vistar TMT (earlier known as Vaishnav TMT) has offered basic Rebar at INR 39,800/MT (12 MM), ex-works, Wada & excluding GST.
8. South Region Based ARS Trusteel in Chennai has monthly production capacity around 12,000 to 15,000 MT of Rebars & Billet each and unchanged their prices d-o-d basis & current offered Rebar 12 mm at INR 43,400/MT, ex-plant & excluding GST.
9. Central region (Raigarh) based Scan Group branding Shrishti TMT having monthly production capacity 20,000 MT has offered basic Rebar at INR 38,300/MT (size – 28 mm), ex-work & excluding GST. As per official opinion market seems to be registered with improved demand and won’t get any noticeable obstacle in prevailing movement.
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