Rebar prices in the Indian secondary market reached at 4-month lowest level.
Indian rebar prices in the secondary market fall to the lowest level which was last seen in the starting of Feb’16 or at the time of MIP imposed.
Rebar prices in the secondary market fall by around INR 200-500/MT in major Indian market like Raipur, Durgapur, Mumbai, Gobindgargh in a week’s time.
Central & West Indian based rebar manufacturers reported that, there is still lack of confidence in the market due to which demand is still not rising on full phase.
As per sources, few small/medium size manufacturers based in Raipur had concluded the deal at INR 23,800-24,000/MT (basic price) for 12mm mainly for local sales as well as neighbouring states like MP.
A large rebar manufacturer based in Raipur said, we are not taking any order as our plants are under maintenance from the last 1-week and which will continue for the next few days also.
Indian billet and rebar prices as on 6 June’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,000 | -300 | 23,800 | -300 |
| Eastern | Durgapur | 20,750 | -550 | 23,700 | -200 |
| Western | Mumbai | 22,900 | 0 | 26,300 | -250 |
| Ahmedabad | 22,650 | -250 | 24,500 | -500 | |
| Northern | Gobindgarh | 24,500 | -400 | 28,500 | -300 |
| Southern | Hyderabad | 22,500 | -150 | 25,300 | 0 |
| Bangalore* | 21,900 | 0 | 27,600 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note : Prices are basic, excise duty & other taxes extra
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