Post Diwali, rebar offers have declined across India by upto INR 700/MT, except in West regions, where prices have improved slightly.
Secondary rebar manufacturers have declined offers in major markets like central India by INR 700/MT, south by INR 500/MT, east by INR 300/MT and north by INR 400/MT.
However, rebar offers in west India especially Mumbai have increased slightly owing to surge in semi finish prices and better buying.
In Raipur, few deals for 12 mm rebar have concluded at INR 23,000/MT (excise duty and other taxes extra), mostly for Maharashtra and Madhya Pradesh. But, buyers are mostly hesitating to take positions till market get some stability.
As per a well-known rebar manufacturer based in Raipur, “Presently, demand is slightly better in retail segment, the only concern is declining iron ore prices in Odisha, which may depressed finished long market.”
Indian billet and rebar prices as on 17 Nov’15
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 20,000 | – 500 | 23,050 | – 700 |
| Eastern | Durgapur | 20,000 | – 600 | 22,700 | – 300 |
| Western | Mumbai | 22,000 | + 200 | 25,200 | + 100 |
| Ahmedabad | 22,800 | + 200 | 25,400 | 0 | |
| Northern | Gobindgarh (MGG) | 23,200 | – 400 | 27,800 | – 400 |
| Southern | Hyderabad | 21,500 | – 500 | 24,000 | – 500 |
| Chennai | 21,300 | 0 | 24,900 | – 400 |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
Note: Above price are ex-plant basis, excise duty & other taxes extra
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