Primary Producers correct Rebar Prices for 2nd time in Oct’14

Steel giants such as SAIL, Tata & JSW Steel have corrected their Rebar prices by INR 750-1,000/MT for the second time in Oct’14 on the grounds of sluggish demand and liquidity crunch.

In the beginning of the month, almost all primary manufacturers had reduced their Rebar prices by INR 500-1,000/MT and now again they have corrected their offers by INR 750-1,000/MT. SAIL officials confirmed that prices have declined by INR 1,000/MT. Sources also reported that JSW Steel has also corrected its prices by INR 750-1,000/MT owing to low off-take in the market.

As per the market participants, infrastructure and real estate companies are facing liquidity crunch in the market.

Primary Rebar (12 mm) offers from 15 Oct, 2014 onwards

Note: Excise included, VAT extra

Secondary Market

Secondary Rebar prices down by INR 500-800/MT in the last 1-week across the market. Rebar in Mumbai is trading at INR 33,600-34,000/MT for 12 mm (ex-plant, Excise and VAT extra); down by INR 500/MT W-o-W owing to cheaper imported Rebar offering by traders in the market.

In Raipur, it is trading at INR 33,500/MT for 12 mm (ex-plant, Excise & VAT extra); down by 600/MT W-o-W because of low buying in the market. In eastern market Durgapur, trades are taking place at INR 32,900/MT; down by INR 400/MT W-o-W.

Weekly Price Change of Rebar (12 mm) and Ingot

Prices in INR/MT as on 17 Oct, 2014