Re-bar prices in Hyderabad fell by Rs 500/MT to reach Rs
36,500/MT (Basic)
According to market players in Hyderabad, “Demand is weak. Buyers have
held their purchases and look for more discount. Selling pressure has lead to a
cut in prices for both Ingot & TMT”
Prices in Kutch & Ahmedabad also fell further by Rs 200-500/MT. But it
was not a surprise as the correction was in line with the market expectations.
Re-bar price in Mumbai however went up marginally by Rs 100/MT. But according to
market participants, “Demand
remains weak & buyers do not prefer to take position in a falling market”.
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