Re-bar prices declined further at few mandis' on adequate
supplies against reduced offtake from buyers.
12 mm in Durgapur traded at the same level of Rs 43,200/MT. According to market players, “There has been power
cut since last two days. Production levels have also dropped and weak demand has
kept the trading volumes low. Manufacturers are expecting to see further price
correction on Monday. There is huge shortage of labor and it has impacted the
material loading. Liquidity crisis is also another big issue.”
TMT in Mumbai traded slightly lower at Rs 38,600/MT.
According to market players, “Production level have dropped by 30% and booking
of 50-80 MT/day is being noticed these days which is quite low”.
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