After holding the offers since the start of the week, on 6th April’17 Indian Medium and Small scale mills have raised rebar offers by INR 200-600/MT.
The rise in demand and positive trend globally are supporting the price rise domestically. The shortage of material is somehow affecting the price rise, and the manufacturers thoroughly revise the price in Northward direction.
Indian Steel demands are expected to increase further in construction, automobiles and white good sector that were hit by demonetization. And, with the opening of new fiscal year the manufacturers are anticipating for big project announcement by the Indian government.
It should be noted that in recent held conference by the Indian government , the minister said that to promote and encourage growth of domestic steel industry, the ministry wants that Indian-made steel should be given preference in government funded projects. A draft Cabinet note has also been initiated to give it an effect.
For increasing consumption, the ministry has organised regional conferences in different parts of the country aimed at disseminating advantages of using steel-based structures.
12mm Domestic Rebar Prices as on 06 Apr’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W |
| North India | Ex-Delhi/NCR | 35,000 | + 600 | +1,300 |
| Ex-Mandi Gobindgarh | 35,000 | + 400 | +500 | |
| East India | Ex-Durgapur | 32,400 | + 200 | +800 |
| Central India | Ex-Indore | 34,600 | 0 | +400 |
| Ex-Raigarh | 32,900 | + 200 | + 700 | |
| Ex-Raipur | 32,900 | + 100 | +550 | |
| West India | Ex-Ahmedabad | 31,600 | + 500 | +1,000 |
| Ex-Goa | 34,300 | + 200 | +1,000 | |
| Ex-Jaipur | 33,700 | + 1,100 | +1,500 | |
| Ex-Jalna | 33,200 | +200 | +1,200 | |
| Ex-Mumbai | 33,000 | +300 | +800 | |
| South India | Ex-Bangalore | 36,000 | 0 | +300 |
| Ex-Chennai | 33,100 | – 200 | +200 | |
| Ex-Hyderabad | 32,900 | + 400 | -100 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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