Today, the medium mills in domestic market have raised rebar prices by about INR 200-400/MT (USD 3-6) following rise in billet prices. Although, the trade activities remained average, according to the market participants.
SteelMint’s daily price assessment on 21st Feb for 415/500 Fe grade rebars – 12mm, offers through medium mills are reported – at INR 36,700-36,900/MT (+ 300) ex-Raipur, INR 37,300-37,500/MT (+300) ex-Durgapur, INR 39,200-39,300/MT(-300) ex-Mumbai, INR 38,500-38,700/MT(-500) ex-Hyderabad & INR 38,500-38,700/MT (+300) in Delhi. The changes mentioned above are day-on-day basis.
Offers through Producers
1. North India based Rathi Steels, has raised prices by INR 300/MT day-on-day (d-o-d) basis and offered 12 mm at INR 39,800/MT ex-Delhi. The company price range being usually followed by other steel manufacturers in North-east regions.
2. Tulsyan NEC Steel (Tulsyan) based in Chennai has kept the same prices from last 2-3 days & offered 12mm Rebars at INR 40,500/MT & Billet at INR 35,000/MT, ex-plant & excluding GST.
3. Jalna based Roopam Steels increase rebar prices by INR 300/MT d-o-d & offered basic at INR 36,700/MT ex-plant & excluding GST. Further stating that price range should be surrounding to INR 36,000-36,500/MT as demand is little bit fluctuated but average supply movement exists.
4. Jalna based Kalika Steels unchanged their prices from last 2-3 days and offered 28mm rebars at INR 36,600/MT ex-plant & excluding GST. They mentioned that prices should be same and won’t get any major amendment as demand active presently.
5. Mahaxmi TMT based in Wardha – Maharashtra also hike rebar prices around by INR 300/MT and the latest offers for the day for 12 mm are reported at INR 37,500/MT ex-plant.
6. Chennai based plants which were closed due to pollution concerns heard to be active couple of them and remaining may get active in a day or two as per market sources.
7. Central Region – Raipur based manufacturers are giving hefty discount in Wire Rod (5.5 mm) around by INR 1,200-1,300/MT and the same level is hovering from past 4-5 days and expecting minor correction further as demand level is slightly below to average.
8. No fresh re-bar export deals reported by Indian medium mills based in South India due to better realization in domestic trades but few billet inquiries have reported around USD 540-550/MT CIF basis from South Asia.
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