Rebar prices in Mumbai & Ahmedabad have increased by INR 700/MT and INR 1,100/MT W-o-W respectively.
Rebar prices in Maharashtra have gone up by upto INR 700/MT since power subsidy was removed by the state government last week. The decision to rollback the subsidy taken today and extend it till 31 Dec, 2014 is likely to provide relief to steel manufacturers in the state.
Prices remain firm even after rollback on positive buying sentiments, but most dealers claim that real demand is still not there in the market and stockiest are still cautious about prices sustaining at these levels.
Currently, Rebar (12 mm) is being offered at INR 33,500/MT & INR 33,400/MT in Mumbai & Jalna (excise and VAT extra) respectively. Prices have surged by 500-800/MT W-o-W in both the cities.
Prices in Ahmedabad have also increased by INR 1,000-1,500/MT in the last one week owing to increase in Scrap offers.
A Rebar manufacturer based in Gujarat stated, “Currently, prices are looking up owing to slightly better demand amid short supply of the material. Rebar (20 mm) is being offered at INR 40,500-41,000/MT FoR. ”
Weekly Price Change of Billet & Rebar (12 mm)
| Region | City | Billet Price | W-o-W | Rebar Price | W-o-W |
| Central | Raipur | 28,600 | + 600 | 32,500 | + 900 |
| Eastern | Durgapur | 29,700 | + 250 | 32,200 | 0 |
| Western | Ahmedabad | 31,400 | + 1,200 | 34,000 | + 1,100 |
| Mumbai | 30,500 | + 800 | 33,500 | + 700 | |
| Northern | Mandi Gobindgarh | 33,000 | + 500 | 36,700 | + 200 |
| Southern | Hyderabad | 29,500 | + 500 | 32,500 | + 600 |
Basic prices in INR/MT as on 11 Dec, 2014
Excise and VAT Extra
Source: SteelMint Research
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