Indian rebar manufacturers have increased their offers by INR 1,000-2,000/MT during last one week. Major prices surge is recorded in Durgapur by INR 2,000/MT followed by Mumbai (+1,600), Raipur & Hyderabad by (+1,000).
The prime reason behind the continuous rise in rebar prices is owing to increase in ingot/ billet prices with the combination of good demand seen in the domestic market.
In addition, January- March is the peak time for construction activities and demand of rebar is expected to pick up in the coming days which were reflected in the prices too.
At present, rebar prices are offering 12 mm material at INR 27,100/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 30,100/MT in ex- Hyderabad, INR 30,500/MT in ex-Mumbai, INR 27,300/MT in ex-Durgapur.
As per the market participants, Buyers are now hesitating to take position at current high rates in the domestic market. In fact, few are also expecting to correct prices by INR 500-1,000/MT in the early next year.
Indian billet and rebar prices as on 26 Dec’16
| Region | City | Billet | W-o-W | 12 mm Rebar | W-o-W |
| Central | Raipur | 24,500 | +1,100 | 27,100 | +1,000 |
| East | Durgapur | 24,600 | +1,600 | 27,300 | +2,000 |
| Western | Mumbai | 27,100 | +1,500 | 30,500 | +1,600 |
| Ahmedabad | 27,000 | +1,400 | 29,300 | +1,800 | |
| Northern | Gobindgarh | 28,400 | +1,600 | 32,100 | +1,300 |
| Southern | Hyderabad | 26,400 | +1,400 | 30,100 | +1,100 |
| Bangalore | 26,000 | +1,500 | 30,600 | +900 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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