Rebar prices in secondary market surged in central, east & west India during last couple of days.
Indian rebar prices in secondary market have recovered by INR 300-500/MT in last couple of days, especially in central, east and west India because of improvement in demand.
However, rebar prices in south India remain unchanged in the same duration as buying activities are not very active in Hyderabad, Bangalore and Chennai.
Most importantly, secondary rebar manufacturers in Mumbai, who had been constantly reducing their offers by upto INR 800/MT day-by-day since the starting of Jun’16, today have increased offers by INR 400/MT, following increase in semi finish prices.
In Raipur, small/medium size manufacturers are offering 12 mm at INR 24,200-24,400/MT (basic price). While, rebar manufacturers based in north India are offering the same size material at around INR 27,100/MT for Delhi/NCR region.
Market participants are in a dilemma whether current price rally will continue or move down in the upcoming week.
Indian billet and rebar prices as on 18 Jun’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 21,050 | 0 | 24,200 | +350 |
| Eastern | Durgapur | 20,600 | 0 | 23,000 | +100 |
| Western | Mumbai | 22,700 | +300 | 25,700 | +400 |
| Ahmedabad | 22,950 | +250 | 25,000 | +500 | |
| Northern | Gobindgarh | 24,200 | 0 | 28,500 | 0 |
| Southern | Hyderabad | 22,000 | 0 | 24,800 | 0 |
| Bangalore* | 21,500 | 0 | 26,600 | 0 |
Basic prices in INR/MT;excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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