Indian medium scale rebar prices observed volatility amid mixed trade sentiments. The market participants reported piling up of stocks in particular regions due to limited spot trades.
As per market participants, demand has gradually lessened in overall regions amid volatile prices and traders turned cautious for fresh bookings.
Further, transportation strike in northern region affected supply movement earlier this week and very limited movement noticed, as per sources.
As per assessment, the medium scale Rebar market in across major Indian markets registered price movement of INR 200-500/MT (USD 3-6) Week-on-Week.
The market participants are assuming domestic Rebar prices to remain under pressure as inventories are rising with the producers, also demand is sluggish from the stockiest end.
Central region Raipur based heavy Structure manufacturers are maintaining trade discount around INR 800/MT and current trade reference price registered at INR 42,300/MT (300 I-Beam), ex-work & excluding GST.
Trade Updates
— North region based Rathi Steels has increased their rebar prices by INR 200-300/MT on day basis & offering 12 mm at INR 42,000/MT ex-works & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by INR 400/MT on day basis and offering 28 mm rebar at INR 37,400/MT, ex-work & excluding GST.
— Jalna based Kalika Steels has increased their prices by INR 200/MT on day basis & offering 28 MM Rebars at INR 37,400/MT ex-plant & excluding GST.
— Central region, Raipur based brand – SPEED TMT has increased their price by INR 100/MT on day basis and current offering at INR 37,200/MT (28 mm), ex-work & excluding GST.
— Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 43,500/MT ex-plant & excluding GST.
— South region – Chennai based ARS Trusteel has increased their prices by INR 200/MT on D-o-D basis & offered 12 MM Rebar at INR 44,600/MT, ex-plant and excluding GST.
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