In a week, rebar offers have declined by INR 200-500/MT W-o-W in major Indian market owing to limited buyers.
Trade activities seems to be very limited in major Indian rebar market since the starting of current month due to ongoing festival season. Sellers are also interested to hold prices at the current level; leading to low trade volumes.
Secondary rebar manufacturers have declined their prices by INR 200-500/MT across India. Major fall of INR 500/MT is seen in central India and prices in west and north India fell by 200-400/MT. Market is almost closed in eastern region owing to ongoing Durga puja festival.
Few large rebar maufacturers based in Jalna are offerring 12 mm rebar at INR 26,000/MT (basic price, excise duty & other taxes extra) for nearby location, especially for Madhya Pradesh. Freight from Jalna to Indore is around INR 1,000/MT.
As per sources, sand mining ban, which was imposed on 20 Jul’15, is lifted on 16 Oct’15 in Madhya Pradesh. It will increase rebar supply from neighbouring states like Chhatitsgarh and Maharashtra.
Indian billet and rebar offers as on 20 Oct’15
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,650 | – 450 | 25,000 | – 400 |
| Eastern | Durgapur | 21,700 | – 200 | 24,700 | + 600 |
| Western | Mumbai | 23,200 | 0 | 26,300 | -100 |
| Jalna | 22,600 | – 400 | 25,800 | – 400 | |
| Northern | Gobindgarh | 25,100 | – 200 | 29,800 | – 200 |
| Southern | Hyderabad | 23,000 | 0 | 25,300 | 0 |
| Bangalore* | 22,850 | 0 | 27,100 | – 300 |
Basic prices in INR/MT; excise and CST/VAT extra
* Ingot price
Source: SteelMint Research
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