Re-bar demand in Hyderabad continue to remain weak despite recent hike in power prices in the state.
Steel traders and manufacturers highlight that finish market has been extremely poor on low demand from construction sector and retail counter. Current offers for 20mm re-bar stands at around Rs 33,800/t (basic, ex-Hyderabad), but sellers are further offering further discounts up to Rs 300-400/t.
“Movement has been low for re-bars. Also conversion cost for making it has gone up after hike in power prices. We are buying ingot at Rs 30,500/t (basic) and selling re-bar at Rs 33,500-33,800/t ( basic).” said a manufacturer based in Hyderabad.
Demand has been weak in other parts of state as well where prices have gone down by Rs 300-500 per tonne this week.
Current Re-bar prices (20mm, Basic Prices)
Raipur- Rs 32,800/t
Hyderabad- Rs 33,800/t
Mumbai- Rs 34,900/t
Delhi- Rs 36,500/t
Chennai- 36,900/t
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