Indian rebar market has seen some price correction during the last one week after the continuous surge in prices over four weeks.
Major prices decrease is recorded in Hyderabad by INR 1,800/MT followed by Mumbai, Raipur & Duragpur by INR 100-300/MT.
At present, rebar prices are offering 12 mm material at INR 27,600/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 28,700/MT in ex- Hyderabad, INR 30,500/MT in ex-Mumbai, INR 27,300/MT in ex-Durgapur.
As per the market participants, Indian rebar prices has sharply risen by INR 3,000-4,000/MT during the month of Dec’16 and demand seems looking weak at such high rates and buyers prefer not to take position at current prices.
Few other participants are also claiming that due to upcoming state elections in UP, Punjab, Uttarakhand, Goa and Manipur, rebar demand remains too dull in these particular states.
Indian billet and rebar prices as on 09 Jan’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 24,600 | -700 | 27,600 | -200 |
| East | Durgapur | 25,000 | -100 | 27,300 | -300 |
| Western | Mumbai | 26,400 | -800 | 30,500 | -100 |
| Ahmedabad | 27,100 | -400 | 29,000 | 0 | |
| Northern | Gobindgarh | 27,900 | -1000 | 32,100 | -400 |
| Southern | Hyderabad | 25,000 | -2,000 | 28,700 | -1,800 |
| Bangalore* | 25,500 | -1,000 | 31,000 | 0 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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