Indian rebar prices in secondary market reported fluctuations in last couple of days with varying supply movements. Prices moved up by about INR 1,500-2,000/MT on weekly basis.
Trade sentiments remain supportive since the week’s beginning however amid fluctuations in billet prices, rebar prices have observed changes.
Rebar prices in secondary market are less expected to fall sharply as major mills have already given an indication of price hike of around INR 1,000/MT in next month.
Trade Updates
1. Central region, Raipur based brand – SPEED TMT has decreased their price by INR 400/MT on day basis and current offering at INR 37,000/MT (28 mm), ex-work & excluding GST.
As per Co. associates lack of buying inquiries and rising inventories urged to consider price reduction and might get hover the same price range for near term.
2. North region based Rathi Steels have decrease their prices by INR 600/MT on day basis and current offering at INR 42,100/MT, size – 12 mm & excluding 18% GST.
3. Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased prices by INR 300/MT on day basis and offering rebar at INR 37,500/MT, 28 mm, ex-work & excluding GST.
As per sources, few manufacturers offering discount level by around INR 200-300/MT after reducing the price range and reference offers stood at around INR 37,200-300/MT ex-works.
4. Tulsyan NEC Steel (Tulsyan) based in Chennai has increase prices by INR 500/MT on day basis & current offering rebar at INR 42,000/MT, 12 mm, ex-plant & excluding GST.
As per sources, few rolling mills which were closed due to pollution norms might get operational in near term.
5. South region based – Prime Gold Int’l Ltd offering rebars at INR 44,600/MT, 12 mm, ex-work & including GST.
6. Akshar Ispat Ltd reduced prices by INR 600/MT on day basis and current offering rebars at INR 47,500/MT, 20 mm, FOR & including GST at 18%.
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