Rebar trade was quite dull last week owing to festive season. Due to which, prices were under pressure in major Indian markets.
Indian secondary rebar manufacturers were remain under pressure in last week as no major buying took place owing to festive season. Traders and stockist are also less interested to stock material as they want to liquidate earlier held stock first.
Major fall of INR 400/MT in rebar prices was seen in central India. But, prices in Durgapur surged by INR 500/MT in a week. Other rebar markets like Mumbai remained more or less stable. However in Bangalore, prices fell sharply by INR 900/MT in the same period.
Last week, Hyderabad based rebar manufacturers increased offered by INR 500/MT to INR 25,700/MT for 12 mm (basic price). But, no major deals were concluded at the same price. Today, offers fell by INR 500/MT and stand at INR 25,200/MT.
It has been heard from the sources that there is better viability of rebar from Chennai to Bangalore. Presently, Chennai is offering rebar to Bangalore at INR 31,500/MT (10-25mm) FoR. While, Bangalore based rebar manufacturers are offering at around INR 32,000/MT for the same size material. Road freight from Chennai to Bangalore is around INR 1,000/MT.
Market participants are expecting rebar prices are likely to be steady in the current week as demand is not much supportive.
Indian billet and rebar prices as on 18 Jan’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,450 | +200 | 24,900 | -400 |
| Eastern | Durgapur | 21,000 | -150 | 24,700 | +500 |
| Western | Mumbai | 22,900 | +200 | 26,450 | -50 |
| Jalna | 22,700 | -200 | 25,900 | -400 | |
| Northern | Gobindgarh | 23,800 | 0 | 28,200 | +100 |
| Ghaziabad* | 23,600 | +500 | 26,600 | -200 | |
| Southern | Hyderabad | 22,500 | +300 | 25,200 | +400 |
| Bangalore* | 22,000 | -450 | 27,100 | -900 |
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
Leave a Reply