Amid low consumption, rebar stock has been risen fortnightly. Meanwhile, prices in Ahmedabad have fallen by INR 1,000/MT in a week’s time.
Indian secondary rebar manufacturers have been facing extreme selling pressure fortnightly due to low consumption of rebar in the market.
Most of the rebar manufacturers shared that the major reason behind low consumption is ongoing summer season, leading to shortage of labour and excessive heat.
A secondary rebar manufacturers based in Gujarat has reported, ”Our inventory has increased abnormally during last few days and if the same situation persist in coming days, prices are likely to fall by around INR 500-1,000/MT.”
Another rebar manufacturers based in Gujarat said that at an average, there is 2,000-4,000 MT of finished material lying at every plant in Ahmedabad, Alang and Gandhidham; depending on plant’s condition.
Rebar prices have fallen by around INR 1,000/MT W-o-W in Ahmedabad and evaluated at around INR 26,400/MT (basic price) for 12 mm.
Indian billet and rebar prices as on 30 Apr’16
| Region | City | Billet | D-o-D | 12 mm Rebar | D-o-D |
| Central | Raipur | 22,100 | 0 | 25,100 | -200 |
| Eastern | Durgapur | 22,500 | -100 | 25,000 | -200 |
| Western | Mumbai | 24,000 | -200 | 27,300 | -200 |
| Ahmedabad | 23,800 | -600 | 26,400 | -300 | |
| Northern | Gobindgarh | 25,500 | -200 | 29,600 | 0 |
| Southern | Hyderabad | 25,000 | 0 | 27,800 | 0 |
| Bangalore* | 24,500 | 0 | 29,500 | -300 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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