Re-bar demand is weak as labourers are unavailable for completion of projects.
“Raipur Re-bar demand is dull and prices are expected to correct around 500/MT. There is lack of labourers due to which the projects in construction sector have stopped. 12MM TMT is being offered by Rs 200/MT more at Rs 38,400/MT,” said market players.
“Mumbai demand for Re-bar is also slow. Monday would show direction to market regarding price fluctuation. 12MM Re-bar is being traded with Rs 100/MT more at Rs 40,300/MT (Basic price),” quotes a trader in Mumbai.
“Hyderabad TMT trading prices have increased by Rs 500/MT and is being offered at Rs 38,600/MT (Basic price). Prices correcting from sometime had to stabilize on account of which demand has improved,†a manufacturer from the city reported SteelMint.
Market experts are expecting Monday to show direction to market.
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