Indian rebar manufacturers based in secondary market has suddenly increased offers in the last couple of days on account of expected revival in demand.
Raipur and Mumbai recorded higher price surge in rebar market by INR 600-800/MT in the last two to three days.
As per the market participants, few deals from Raipur to South & West India have concluded at INR 24,600-25,100/MT (basic price) for 12-25mm by small/ medium size manufacturers.
Also, few large/ premium rebar brands in Raipur are offering at INR 26,300-26,600/MT for the same size material.
Road freight from Raipur to Hyderabad & Mumbai is around INR 1,500-1,800/MT, for Bangalore is around INR 3,000/MT.
A well know rebar manufactures based in Raipur said that “There has been lot of buying activities took place in the last few days which is reflecting in the prices too”.
“He also added that we are also expecting that there will be price rise by large manufacturers like SAIL, RINL, JSW Steel, Tata steel and JSPL in early Dec’16”.
Indian billet and rebar prices as on 26 Nov’16
| Region | City | Billet | D-o-D | 12 mm Rebar | D-o-D |
| Central | Raipur | 22,000 | +200 | 25,300 | +500 |
| Western | Mumbai | 24,000 | +300 | 26,900 | +100 |
| Ahmedabad | 23,800 | +200 | 26,100 | +400 | |
| Northern | Gobindgarh | 24,900 | 0 | 29,000 | +100 |
| Southern | Hyderabad | 23,500 | 0 | 27,500 | 0 |
| Bangalore* | 23,200 | 0 | 29,200 | 0 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
Note: Prices are basic
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