Indian Rebar Manufacturers Increase Offers Further

SAIL has increased rebar offers by INR 500/MT w.e.f 21 Dec’15. However, there is no announcement by other primary players.

Looking at sharp increase in offers by secondary rebar manufactures this month, a primary maker, SAIL has also decided to increase rebar offers by INR 500/MT w.e.f 21 Dec’15. However, other primary manufactures have not yet announced any change in prices.

Today, secondary rebar manufacturers have also increased offers further by INR 500-1,100/MT. Major hike of INR 1,100/MT is seen in eastern India. Prices in other cities have moved up by INR 300-500/MT.

“Primary producers’ brand offers for 12/25 mm rebar in Chennai are assessed at INR 30,200/MT (excise duty included, CST/ VAT extra) and for 16,20 mm at INR 30,700/MT in retail sales. However, secondary manufacturers’ brand offers are assessed at INR 30,000/MT (excise duty included, VAT/ CST extra) for 12 mm in Chennai, reported a rebar dealer in Chennai”.

Few deals have concluded at INR 29,000-29,500/MT for 12 mm material mostly for Karnataka region owing to better viability. Freight from Chennai to Bangalore is around INR 1,100/MT. However, Bangalore based secondary rebar manufacturers are offering at INR 33,900/MT (prices including VAT) for 12 mm within the state.

Indian billet and rebar prices as on 22 Dec’15

Basic prices in INR/MT; excise duty and CST/VAT extra,
* Ingot price
Source: SteelMint Research

Note: Prices are basic, excise duty & other taxes extra.