After a sharp increase in January month, re-bar prices have again started showing sign of improvement as seasonal demand picks up. Re-bar manufacturers in Durgapur increase rates by Rs 200 over improved demand from local construction. Similarly in Western India prices gained over Rs 200/t as trading improved from stockist.
Raipur TMT is being offered in range of Rs 32,500-33,000 (basic) for 20MM against bids at Rs 32300-400(basic), confirmed a trader based in Raipur. Primary manufacturer like Tata, SAIL, Jindal, RINL, etc did not raise TMT prices that bounded secondary steel not to raise price to maintain the difference, the trader added. RINL official in an interview said, ‘though sales have been good but falling steel prices have impacted margins.’
Similarly in Jalna and Hyderabad prices are constant as buyers prefer random material over bill. A local trader says that buyers from Maharashtra, M.P and A.P preferred to buy at random prices that help sales in trader end to clear the stock. If demand continues like this, market will revive in coming days, he added
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