In most cities of India, re-bar prices corrected by Rs 300-500/t as trading activities remain limited. Due to summer season some cities are facing water problem. In Maharashtra and Gujarat 50% construction activities are interrupted due to water shortage. Buyers have taken a wait and see approach as price are down on daily basis.
In Mumbai 12mm re-bar prices offer at Rs 33,600-33,800/t down by Rs 200/t from yesterday trade, whereas premium brands offers Rs 400/t high at Rs 34000/t. In similar line Muzaffarnagar 12mm price also trading lower by Rs 600/t from yesterday trade. 12mm TMT is trading at Rs 34,200/t.
Major Manufacturers in Raipur are quoting 12mm at Rs 31,800-32,100/t, lower by Rs 100-200/t from yesterday trading. MS Ingot price is trading at Rs 27,700/t and commercial billet at Rs 28,300/t, Rs 100/t weak from yesterday. All prices are basic.
Whereas in south market, Re-bar prices quoting at the same level.
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