Indian medium steel mills increased rebar prices by INR 100-400/MT day-on-day on improved demand and with surge in billet prices.
According to SteelMint price assessment, today the offers by medium mills for 415/500 Fe grade rebars (size 12 mm) are reported – at INR 36,200-36,400/MT (+ 100) ex-Raipur, INR 36,400-36,600/MT (+100) ex-Durgapur, INR 38,900-39,200/MT(+200) ex-Mumbai, INR 38,200-38,400/MT(0) ex-Hyderabad & INR 38,200-38,400/MT (+300/MT) in Delhi. The changes mentioned above are day-on-day basis.
The re-rollers in Central, East & West India who’s rebar production about 200-500 MT/day are mentioned that, none stock with them and are receiving good inquiries. These regions are the largest producer for long steels specifically for rebars & structures and supply it to all over India.
Offers by few big plants
1. Rathi Steels, known as price trend setter for Northern India has raised prices by INR 300/MT and offered 12 mm at INR 39,400-39,600/MT ex-Delhi. The company largely sells finished steel to North-east regions.
2. Jalna based Kalika Steels producing rebar about 28,000 to 30,000 MT per month offered 28 mm rebars at INR 36,200-36,400/MT (ex-plant) with rise of INR 200/MT day on day.
3. Indian large producers are offering rebars 10-25 mm at around INR 44,000/MT ex-Mumbai, these offers rise about INR 3,000-4,000/MT in a month duration.
4. Akshar Ispat Ltd are offering rebars at around INR 47,000-47,200/MT FOR & including GST at 18%, Size – 20 mm, increased INR 200/MT day on day basis.
5. Mahaxmi TMT based in Wardha – Maharashtra also hike rebar prices around INR 300/MT and the latest offers for the day for 12 mm are reported at INR 36,800/MT ex-plant. According to officials, the current average production of rebars is about 35,000 MT against the installed capacity of 45,000 MT monthly.
6. Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 38,500/MT (12 mm) and having monthly Rebar production around 10,000 MT & Billet at 40,000 MT.
7. The big producers in Raipur & Durgapur increased Wire rod prices by INR 100-200/MT. The latest offers for 5.5 mm Wire rod are heard at INR 37,700/MT Ex-Raipur & INR 36,800-37,000/MT Ex-Durgapur.
8. Raipur structure prices increased today by INR 300-400/MT for both light & heavy sizes. Similar price rise being reported in Mumbai, Maharashtra.
9. No fresh export deals by Indian medium mills based in West & South India due to better realization in domestic trades. The last rebar export deals heard in Dec’17 at around USD 570-580/MT, FoB India.
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