Despite being low demand, no major price corrections have been seen since the starting of current week.
India secondary rebar manufacturers are facing selling pressure as buyers seem less interested to hold material during the current week.
Surprisingly, despite being low demand, there is no major price corrections have been seen across Indian market in the same duration.
Market participants are expecting pick up in rebar demand during May’16 as compared to the current month.
Looking at cheaper price gap between Raipur and Hyderabad by around INR 2,500/MT from the last one month, few rebar bookings have been heard from Raipur to the border of Telangana last week, with freight of around INR 1,100/MT.
A large size rebar manufacturer based in Hyderabad said, “Sales of rebar were almost 40-50% less in Apr’16 as compared to previous month due to several holidays in the current month.”
Indian billet and rebar prices as on 28 Apr’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,400 | -50 | 25,350 | -150 |
| Eastern | Durgapur | 22,750 | -150 | 25,300 | 0 |
| Western | Mumbai | 24,400 | -100 | 27,600 | -100 |
| Ahmedabad | 25,000 | 0 | 26,800 | -100 | |
| Northern | Gobindgarh | 25,800 | 0 | 29,900 | +100 |
| Southern | Hyderabad | 25,000 | 0 | 27,800 | -200 |
| Bangalore* | 24,500 | 0 | 29,700 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note: Price are basic, excise duty & other taxes extra
Leave a Reply