Indian rebar Prices moved up in the last one week after long silence.
After a quite long silence seen in the Indian rebar market, prices has surged by 400-800/MT in a week’s time on account of increase in semi-finished prices coupled with better demand seen in the last few days.
At present, rebar producers are offering 12 mm material in the range of INR 22,500-23,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 24,700-24,900/MT in ex- Hyderabad, INR 24,900-25,000/MT in ex-Mumbai.
Market Participants are in a dilemma whether recent increase in rebar prices will be absorbed by the market or not as demand needs to be satisfied.
A big manufacturer of rebar in Raipur stated, “Traders/ stockist have stocked the material few days back but no major booking has been done after the sudden rise in prices. We are expecting that if the prices sustain, demand will be positive”.
Indian billet and rebar prices as on 29 Aug’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 19,800 | +350 | 22,550 | +350 |
| Eastern | Durgapur | 20,000 | +500 | 22,100 | +600 |
| Western | Mumbai | 22,100 | +400 | 24,900 | +300 |
| Ahmedabad | 21,100 | 0 | 23,200 | 0 | |
| Northern | Gobindgarh | 22,700 | +200 | 26,800 | +100 |
| Southern | Hyderabad | 21,800 | +800 | 24,700 | +800 |
| Bangalore* | 21,500 | +500 | 26,200 | +700 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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