Indian re-rollers prefer to keep prices unchanged on falling steel futures at NCDEX and MCX. Market participants highlight that prices seem to have bottomed, although possibility of it going up is also limited.
Current offers for 20mm re-bar at Raipur, Central India stands at Rs 32,000/t (Ex- Works, Excise and Taxes Extra) and offers at Mumbai stands at around Rs 36,000-36,500/t (Ex Works) for 12mm.
“Demand for finished good is moderate due to no large infrastructure projects lined up by government. Prices are likely to remain stable.” said a steel trader.
Leave a Reply