Indian rebar Prices contine to move up. Price gap between billet and rebar remains the same.
Indian rebar prices have risen by 500-1,000/MT in a week’s time on account of increase in semi-finished products prices i.e ingot/ billet coupled with the improvement in demand.
At present, rebar producers are offering 12 mm material in the range of INR 23,400-24,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 25,000/MT in ex- Hyderabad, INR 25,900/MT in ex-Mumbai, INR 22,700/MT in ex-Durgapur.
Indian rebar prices are likely to remain firm in the upcoming days owing to continuous rise in ingot/ billet prices. However, manufacturers are facing pressure in conversion spread between billet and rebar.
A well known rebar manufacturer based in Raipur stated that the last deal in rebar concluded at INR 23,000/MT(basic price) for 12mm in bulk but after the price rise today by INR 400-500/MT, no major booking has been made.
Indian billet and rebar prices as on 12 Sep’16
| Region | City | Billet | W-o-W | 12 mm Rebar | W-o-W |
| Central | Raipur | 21,000 | +500 | 23,500 | +200 |
| Eastern | Durgapur | 20,700 | +500 | 22,700 | +300 |
| Western | Mumbai | 23,200 | +800 | 25,900 | +400 |
| Ahmedabad | 22,800 | +1,000 | 24,000 | +300 | |
| Northern | Gobindgarh | 23,800 | +600 | 27,800 | +1,000 |
| Southern | Hyderabad | 22,500 | +500 | 25,000 | +0 |
| Bangalore* | 22,300 | 0 | 27,600 | +500 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
Leave a Reply