Secondary rebar manufacturers have kept offers firm in central, east and west India, but correct in south India.
Indian rebar prices have increased marginally in last couple of days, majorly in central and west India. However, it has decreased in south India.
Post price rise in major markets, trade activities have limited, as buyers are now hesitating to take position, concerning whether market will sustain or not.
Most of the rebar manufacturers based in central India are offering material in the range of INR 24,600-24,800/MT (basic price) for 12 mm.
But, few deals had concluded at INR 24,400-24,500/MT for the same size material within the state, including neighbouring states like Maharashtra, MP and UP.
Market participants are expecting rise in demand once before the onset of monsoon season.
Indian billet and rebar prices as on 21 May’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 21,550 | -100 | 24,600 | 0 |
| Eastern | Durgapur | 21,650 | -200 | 24,300 | 0 |
| Western | Mumbai | 23,500 | 0 | 26,900 | +300 |
| Ahmedabad | 22,800 | -300 | 25,300 | 0 | |
| Northern | Gobindgarh | 25,000 | -200 | 29,000 | 0 |
| Southern | Hyderabad | 22,500 | -250 | 25,300 | -500 |
| Bangalore* | 22,300 | -200 | 27,500 | -300 |
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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