Rebar offers fell further by 100-400/MT D-o-D owing to decline in semi finish prices.
Rebar offers across India have fallen by INR 100-300/MT in a day, following decline in MS ingot/billet prices and weak buying in the market.
Traders and stockist prefer to stay away from market till some stability is gained. Rebar manufacturers based in Raipur are offering 12 mm material at INR 24,000/MT (excise duty and other taxes extra). Few are even offering at INR 23,800/MT for the same size. But, no major deals were heard at that price.
A well known manufacturer based in Mumbai said, “We haven’t expected earlier that market will correct at this level. Looking at current scenario, it is difficult to predict about the market.”
Indian billet and rebar offers as on 26 Oct’15
|
Region |
City | Billet | D-o-D | 12mm Rebar |
D-o-D |
| Central | Raipur | 20,700 | – 150 | 24,000 | – 100 |
| Eastern | Rourkela | 20,400 | – 350 | 24,300 | 0 |
| Western | Mumbai | 22,400 | – 300 | 25,650 | – 200 |
| Jalna | 22,300 | 0 | 25,600 | 0 | |
| Northern | Gobindgarh | 24,100 | – 250 | 29,200 | – 100 |
| Southern | Hyderabad | 22,500 | – 200 | 24,850 | – 350 |
| Bangalore* | 22,450 | – 450 | 27,100 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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