Indian primary players might consider price cut for long products in August 

Re-bar offers by Indian secondary steel manufacturers have come down by more than Rs 2,000-2,500 per tonne in last one month on factors like poor demand, seasonal slow down and falling steel prices in global market.

Looking at current scenario traders and brokers expect primary producers to cut their long steel prices for August deliveries, which were kept unchanged for July.

“The price difference between primary and secondary producers have widened a lot. Currently offers from secondary steel players are lower by Rs 5000-7000/t (which is generally 3,000-5,000/t) than primary producers.This price gap might force them to slash their offers.” said a large trader based at Raipur (Chattisgarh).

Currently 12mm is being offered at Rs 33,300-700/t (Ex Works,Raipur) by secondary producers.