Re-bar manufacturers
based in Raipur have cut their offers by almost Rs. 400/MT on weak demand from
Southern India.
“Prices which had
surged up on strong demand from South have now started softening as buyers are
unwilling to take position at these levels.
Manufacturers have cut
their offers upto Rs. 500/MT and 12mm TMT is quoted at Rs. 38400-500/MT (Ex-Works),” said a steel trader based in Raipur.
“Re-bar demand in Mumbai
is sluggish and trading prices have corrected marginally due to weak buying. 12mm
Re-bar in Mumbai is being offered with a correction of Rs. 300/MT at Rs.39,300/MT,” remarks a trader from Mumbai.
“Trading volumes are
low as buyers are not entering markets due to the end of financial year coming
close. Manufacturers in Hyderabad are bound to correct prices further if demand
does not pick up. 12mm Re-bar trading prices in Hyderabad is quoted at Rs. 41,000/MT,” reported a trader in Hyderabad.
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