There
is a mixed response in the Indian Re-bar market as traders based in South
expect prices to correct with no aggressive buying, where as traders based in
North expect prices might go up further after budget.
“Re-bar prices have
seen an uptrend because of the power crisis and severe shortage of raw material
in Tamil Nadu. 12mm Re-bar prices for Chennai are trading at
a high at Rs. 43,500/MT (Basic price),” said a trader based in Chennai.
“The finished steel
market demand is high currently with the trading prices showing a plus,” reports a trader from Nagpur.
“Market have picked up
on rising re-bar prices in Hyderabad due to power crisis and likely to sustain
after budget, 12mm Rebar is trading at Rs. 39000-500/MT (Ex- Works),” said a trader based in
Jalna.
Hyderabad prices for 12mm re-bar hovering around Rs 39,000/MT (Ex-Wroks)
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