Rebar prices in Indian secondary market have surged by INR 600-1,300/MT and in primary market by INR 500/MT.
Indian secondary rebar manufacturers have reported that demand was quite better last week in major market. In turn, prices had surged by INR 600-1,300/MT W-o-W across India.
The major reason behind this is marginal improvement in demand couple with increase in ingot/ billet prices.
A medium size rebar manufacturer based in Raipur has reported that buying was more from the outstation, especially from Bangalore and few parts in Kerala.
He also added that they sold 12 mm rebar at INR 26,000-26,200/MT (basic price, excise duty & other taxes extra) few days back. However, no major booking has done today.
Primary market
Recently, SAIL and RINL (Vizag Steel) has increased offers by INR 500/MT on 11 Mar’16 and 12 Mar’16 respectively.
A large dealer based in north India shared, “SAIL is offering rebar at around INR 35,500/MT (excise duty included, other taxes extra) for 12mm.”
Indian billet and rebar prices as on 14 Mar’16
|
Region |
City | Billet | D-o-D | W-o-W | 12 mm Rebar | D-o-D |
W-o-W |
| Central | Raipur | 23,000 | -250 | +600 | 26,000 | -200 | +800 |
| Eastern | Durgapur | 22,250 | -350 | +250 | 25,100 | -500 | +600 |
| Western | Mumbai | 24,600 | -600 | +300 | 27,900 | -400 | +600 |
| Ahmedabad | 25,900 | -100 | +1,200 | 28,400 | 0 | +1,000 | |
| Northern | Gobindgarh | 26,150 | -150 | +150 | 30,600 | 0 | +100 |
| Ghaziabad* | 24,500 | -200 | +300 | 27,400 | -300 | 0 | |
| Southern | Hyderabad | 25,600 | -400 | +1,200 | 28,400 | -300 | +1,200 |
| Bangalore* | 24,100 | 0 | +1,300 | 31,000 | +1,300 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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