Secondary Re-bar manufacturers of India have kept their offers untouched in spite of increased semi finish prices which are up by INR 300-500/MT since last 2-3 days. However, low sales of finished long steel forced the Re-bar manufacturers to keep Re-bar prices unchanged.
In Raipur, Re-bar offers from GK TMT, Goel and Kamdhenu remained same. Re-bar is generally supplied to Maharashtra, Tamil Nadu and Kerala, but owing to slow off take from these states, Raipur Re-bar manufacturers have kept their offers unmoved. 12 mm Re-bar offers are in the range of INR 32,500-33,000/MT.
Correspondingly, in Maharashtra, Vaishnav TMT and Guardian TMT manufacturers have kept their Re-bar prices unchanged for today. 12 mm Re-bar is offered at INR 33,900/MT and 34,000/MT respectively.
Meanwhile, Anant TMT at Indore and Scan and Reliable TMT at Rourkela remained same as was in last week. Offers of 12 mm Re-bar are at INR 35,650/MT for Anant, at INR 32,200/MT for Scan and Reliable.
According to market participants, “semi finish prices are continue to increase on product shortage but demand is still subdued owing to festive season.”
Above mentioned prices are basic.
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