Indian rebar market experienced a sharp increase in the offers by INR 300-1,000/MT (USD 5-15) supported by strong demand.
Even though GST (Goods & Service tax) is approaching the manufacturers are very optimistic regarding the demand, the offers progressively increased in the last couple of days.
In the duration, maximum hike was observed in North India-Delhi by INR 1,000/MT; followed by East Region-Durgapur INR 500/MT & Central, South and Western belt by INR 100-300/MT against trade done on 17 Jun.
As the demand is healthy, the manufacturers and large distributors are left with very minimal inventories, trade participants acknowledged.
A renowned manufacturer with having rebar production of 800 TPD in Ahmedabad Western India stated “We are left with very less inventories as the demand is quite good and are supplying the material to near by places like Rajasthan and Madhya Pradesh”
12 MM Rebar Prices as on 19 Jun’17
| Region | Particular/Delivery | Taxes | Prices | D-o-D |
| North India | Ex-Delhi/NCR | ED 12.5%VAT/CST Extra | 33,250 | + 1,000 |
| Ex-Mandi Gobindgarh | ED 12.5%, VAT/CST Extra | 32,800 | + 500 | |
| East India | Ex-Durgapur | ED 12.5%, VAT/CST Extra | 28,800 | + 500 |
| Ex-Raigarh | ED 12.5%, VAT/CST Extra | 29,200 | + 200 | |
| Ex-Raipur | ED 12.5% VAT/CST Extra | 29,900 | + 300 | |
| West India | Ex-Ahmedabad | ED 12.5%,VAT/CST Extra | 29,300 | + 300 |
| Ex-Goa | ED 12.5%, VAT/CST Extra | 30,000 | + 100 | |
| Ex-Jaipur | ED 12.5%, VAT/CST Extra | 30,400 | + 100 | |
| Ex-Jalna | ED 12.5%, VAT/CST Extra | 29,200 | 0 | |
| Ex-Mumbai | ED 12.5%, VAT/CST Extra | 30,100 | + 100 | |
| South India | Ex-Bangalore | ED 12.5%, VAT/CST Extra | 31,000 | 0 |
| Ex-Chennai | ED 12.5%, VAT/CST Extra | 29,300 | + 300 | |
| Ex-Hyderabad | ED 12.5%, VAT/CST Extra | 29,300 | + 300 |
Basic prices in INR/MT
Source: SteelMint Research
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