Secondary rebar manufacturers have increased prices by INR 1,000-1,500/MT W-o-W across India.
Rebar market continue to remain positive in the 3rd week of the current month. Secondary rebar manufacturers have increased offers by INR 600-1,500/MT W-o-W across major markets inline with increase in MS billet prices.
Major increase in offers is seen in central India by INR 1,500/MT, east India by INR 600/MT, south India by INR 600-1,300/MT and west India by INR 400-1,000/MT in a week’s time.
A rebar trader based in Raipur stated that few deals had concluded at INR 25,400/MT for 12 mm (basic price, excise duty and other taxes extra) but thereafter buyers are afraid to take position.
A rebar manufactuer based in Hyderabed had concluded a deal for 12 mm rebar at INR 26,100/MT (basic price, excise duty and other taxes extra).
A trader based in Bangalore shared that local manufacturers have substantially increased offers by INR 1,000/MT today as demand is supporting and there is also shortage of material. Current offers for 12 mm are assessed at INR 33,600/MT (including ED & VAT).
Indian billet and rebar prices as on 21 Dec’15
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,900 | +1,400 | 25,450 | +1,500 |
| Eastern | Durgapur | 21,200 | +1,200 | 23,700 | +600 |
| Western | Mumbai | 23,400 | +1,000 | 26,100 | +400 |
| Ahmedabad | 24,100 | +1,100 | 26,900 | +1,500 | |
| Northern | Gobindgarh | 24,700 | -150 | 28,400 | +600 |
| Southern | Hyderabad | 23,500 | +1,000 | 26,100 | +600 |
| Bangalore* | 22,800 | +1,000 | 28,400 | +1,300 |
Basic prices in INR/MT; excise duty and CST/VAT extra, * Ingot price
Source: SteelMint Research
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