Rebar prices moved up in east and west India, but it remained under pressure in north and south markets during week 33.
Indian rebar market reported positive price movement at the end of last week, especially in east and west India. Rebar prices in Mumbai and Durgapur moved up by INR 300-400/MT in last few days.
However, other major rebar market like central India had registered a slight price correction of INR 200/MT W-o-W. Major downfall of INR 400-700/MT was seen in north and south India in the same duration.
It seems that demand is likely to pick up as monsoon season ends. However, market participants are still in dilemma that whether the recent price rise will sustain or not.
Most of the small/medium size rebar manufacturers based in Raipur are currently offering 12 mm material in the range of INR 22,200-22,500/MT (basic price, excise duty and other taxes extra). While, manufacturers are offering the same size at INR 23,500-700/MT in Jalna and INR 24,100-300/MT in Mumbai.
Indian billet and rebar prices as on 16 Aug’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 19,750 | -200 | 22,300 | -200 |
| Eastern | Durgapur | 196,50 | +200 | 21,800 | +300 |
| Western | Mumbai | 21,250 | +50 | 24,200 | 0 |
| Ahmedabad | 21,000 | -100 | 23,000 | +200 | |
| Northern | Gobindgarh | 22,700 | -150 | 26,800 | -400 |
| Southern | Hyderabad | 21,000 | 0 | 23,900 | 0 |
| Bangalore* | 20,800 | -500 | 25,500 | -700 |
Prices in INR/MT, excise duty & other taxes extra
*ingot price
Source: SteelMint Research
Note : Prices are basic
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