Re-bar prices in India corrected by another Rs 200-300/t on Tuesday on sluggish demand and slow off take. Industry experts believe that prices will remain under pressure in short term.
“Re-bar demand in Raipur is weak. Even if demand for
finished comes in, the city is facing transportation problem due to which it
will be unable to meet the required demand. We expect prices to correct soon but markets are anticipated to show
direction around the beginning of next week. 12mm Re-bar in Raipur is offered
at Rs 39,600/MT (Basic price),” said a trader from Raipur.
“Due to major lack of infrastructural activities, demand for
finished is slow in Hyderabad. Once demand in TMT picks up, we expect it to stabilize.
Prices are anticipated to slip further so that trading volumes may gain. 12mm
Re-bar in Hyderabad is being quoted at Rs 39,700/MT (Basic price),” reported a
manufacturer from the city.
“Ahmedabad Re-bar trades have come down as prices are
already high. Infrastructure projects are running but due to shortage of
labourers work has stopped further. Cement prices have increased and there is
no demand from real estate builders. Market is down and dealers had piled up
stock but sales is weak. Prices in finished went up after excise hike but there
is no rise in demand. We anticipate demand to pick up if tmt prices fall. 12mm
Re-bar in Ahmedabad is trading at Rs 40,000/MT (Basic price),” remarks an
Ahmedabad based trader.
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