Indian secondary rebar manufacturers across India are tussling with tough times. Today, prices have fallen by INR 100-200/MT against last day closing and INR 100-500/MT within a week.
On the flip side, south market has registered a growth of INR 600/MT D-o-D due to few bulk rebar deals heard in the region.
At present, 12 mm rebar in Raipur is available at INR 22,800/MT (-200), Durgapur at INR 22,200/MT (0), Mumbai at INR 24,400/MT (-100) and Chennai at INR 25,700/MT (+900). Price changes are weekly.
Rebar prices have corrected on the backdrop of lull trade activities took place in domestic market due to monsoon. In current scenario, prices seem to be bottomed out. Market participants anticipate that prices will remain range-bound at current levels until trade activities regain post monsoon.
Billet and rebar prices as on 13 Jul’16
| Region | City | Billet | D-o-D | 12 mm Rebar | D-o-D | Conversion Spread |
| Central | Raipur | 20,000 | -100 | 22,800 | -150 | 2,800 |
| Eastern | Durgapur | 20,000 | -150 | 22,200 | -200 | 2,200 |
| Western | Mumbai | 21,200 | -100 | 24,400 | -100 | 3,200 |
| Ahmedabad | 22,400 | -200 | 24,100 | -200 | 1,700 | |
| Northern | Gobindgarh | 23,300 | -100 | 27,300 | -100 | 4,000 |
| Southern | Hyderabad | 21,500 | 0 | 24,500 | 0 | 3,000 |
| Bangalore* | 21,500 | 0 | 26,400 | 0 | 4,900 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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