Long Steel demand remains moderate all over India showing no improvement.
Lesser trading activities and fall in raw material prices in Durgapur has made offers to come down by Rs 400/MT in last two days. 12mm Re-bar offers in Durgapur at present stands at Rs 35,800/MT (Including ED).
In line, re-bar prices at Hyderabad and Raipur also registered a fall of Rs 100-200/MT to Rs 32,500-700/MT and Rs 30,200/MT (12MM Basic Price).
Re-bar prices at Chennai are being quoted at the same level compared to last week which was at around Rs 39,500/MT (Including ED). But a slowdown in demand has been observed in the city.
Also in the North-Western part of the country; like Mumbai and Ahmedabad the prices dropped sharply. At present offers from Mumbai and Ahmedabad stand at Rs 32,000/MT and Rs 31,800-32,000/MT (12mm Basic prices) after falling by Rs 200/MT and Rs 300/MT respectively.
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