'Re-bar prices in Raipur have corrected on low buying
interest. Prices are expected to correct further that made buyers undecisive for bookings. The
closure of financial year has also accounted for low trading volumes,†reported
a trader from Raipur. Trading prices are quoted at Rs. 38,000/MT (Ex-works) for
12mm Re-bar in Raipur.
“Durgapur Re-bar market is dependent on the fluctuations in NCDEX
Steellong. 12 mm Re-bar trading prices have
come down to Rs. 44,100/MT (Including all) on slow demand and also because NCDEX
Steellong April contract saw a slip,” a city based trader remarked.
“Re-bar demand is Hyderabad is weak as buyers are expecting
more of downtrend in prices by the end of this week. I feel that prices should
not have increased so much and they have to come down at levels where trading
volumes can start again. We had been supplying materials to South from a long time
but now that there is transportation problem even after heavy bookings, we are looking forward to the opening of
Gujarat market for sales which have been closed since Holi,” a manufacturer
from Hyderabad reported SteelMint. 12mm Re-bar prices are trading low by Rs.
500/MT at Rs. 40,000/MT (Basic price) in Hyderabad.
Chennai Re-bar trading prices saw a major downtrend of Rs. 1,700/MT
and 12mm Re-bar in Chennai is offered at Rs. 45,500/MT
(Basic price).
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