Indian rebar prices have surged by INR 300-700/MT in all major secondary market except in South India during the last one week. Prices in Hyderabad fell by INR 300/MT in the same duration.
At present, rebar producers in secondary market are offering 12 mm material in the range of INR 24,800-25,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 27,500/MT in ex- Hyderabad, INR 27,300/MT in ex-Mumbai, INR 24,700/MT in ex-Durgapur.
Also, few large manufacturers/ premium brands based in Raipur are offering in the range of INR 26,200-26,700/MT (basic price) for 12-25mm material.
As per the market participants, rebar manufacturers based in Raipur and Mumbai are facing selling pressure which led to rise in inventory level. In turn, manufacturers has also reduced the production level to almost 50-70% to maintain demand- supply gap.
A well known manufacturer based in Raipur stated, “Sales of rebar is not very active during the last one week, but still we do not have much scope to reduce the offers further”.
Indian billet and rebar prices as on 05 Dec’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,300 | -100 | 24,900 | +500 |
| East | Durgapur | 22,150 | +300 | 24,700 | +500 |
| Western | Mumbai | 23,900 | -100 | 27,300 | +300 |
| Ahmedabad | 23,800 | -200 | 26,000 | -300 | |
| Northern | Gobindgarh | 25,900 | +400 | 29,900 | +700 |
| Southern | Hyderabad | 23,500 | -500 | 27,500 | -300 |
| Bangalore* | 23,500 | 0 | 29,600 | 0 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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