Rebar manufacturers are tussling with selling pressure on account of sluggish demand and rise in inventory level.
Secondary rebar manufacturers across India had been continuously reduced rebar offers since last 15 days owing to sluggish demand couple with rise in inventory level.
Major price correction of INR 1,200/MT was seen in central India, followed by west India by INR 1,100/MT, north by INR 900/MT and east by INR 800/MT.
In Raipur, presently, small/medium size manufacturers are offering 12 mm at INR 22,800-23,000/MT (basic price). While, rebar manufacturers based in north India are offering at around INR 25,100-2,5300/MT for Delhi/NCR region for the same size material.
Today, rebar offers reduced by INR 500/MT in Hyderabad and currently 12 mm available at INR 24,500/MT (basic price).
Indian billet and rebar prices as on 7 July’16
| Region | City | Billet | 1 W-o-W | 2 W-o-W | 12 mm Rebar | 1 W-o-W | 2 W-o-W |
| Central | Raipur | 20,150 | -400 | -850 | 22,900 | -800 | -1200 |
| Eastern | Durgapur | 19,800 | -300 | -550 | 22,000 | -300 | -800 |
| Western | Mumbai | 21,200 | -1000 | -1300 | 24,400 | -600 | -1100 |
| Ahmedabad | 22,400 | -300 | -500 | 24,200 | -1200 | -1000 | |
| Northern | Gobindgarh | 23,100 | -600 | -1050 | 27,400 | -700 | -900 |
| Southern | Hyderabad | 21,500 | -700 | -700 | 24,500 | -600 | -600 |
| Bangalore* | 21,400 | -600 | -300 | 26,200 | -1000 | -200 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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