Softening of demand continues to pull down Re-bar prices
further at major mandis'.
Shortage of labor & lack of demand from infrastructure
sector has been hurting the finished steel sector since April. Lower off-take
is also prompting traders & manufacturers to cut their offer prices.
However, some demand in light structures is being heard from
agriculture regions.
Following is the transaction pattern that is being
noticed these days at various mandis':
Indore – On an average, booking of 100-150 MT
has been seen each day in the last 2 days
Goa – Booking from local buyers is low. However,
a quantity of 200-300MT was heard being sent to mandis' in South like Karnataka
& Kerala
Mumbai – Booking volume is very low; On an
average 60-100MT has been booked in last 2 days
Ahmedabad– Some demand is being noticed for light
structural products but demand for TMT is quite low.
According to industry experts, “Activities generally slow
down in April as market players curtail fresh purchases in the start of new
financial year and wait to get some direction. However, demand should improve
in the next couple of weeks as with July monsoons will begin”.
Overall markets look to have over corrected, traders and stockist expect prices to stabilize at these levels.
Leave a Reply