Rebar manufacturers reported that trade volume has limited to almost half in last few days.
Secondary rebar manufacturers have reduced their offers by around INR 1,000/MT in a week’s time across India as demand seems to be dull in the market.
Few secondary rebar manufacturers based in central and east India reported that trade volume has limited to almost half in the recent few days as compared to previously and it remains to be the same in next few days.
As per our sources, a medium size rebar manufacturer based in Durgapur concluded few deals at INR 24,600/MT (basic price) for 12 mm mainly for UP. Rebar offers in Muzaffarnagar are assessed at around INR 26,000/MT(basic price) for the same size material.
Similarly, few small/ medium rebar manufacturer based in Raipur sold 12 mm rebar at around INR 25,000/MT(basic price) to nearby locations.
Indian billet and rebar prices as on 22 Mar’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,100 | -450 | 25,000 | -800 |
| Eastern | Durgapur | 21,850 | -250 | 24,600 | -400 |
| Western | Mumbai | 23,700 | -700 | 26,800 | -800 |
| Ahmedabad | 24,700 | -700 | 27,400 | -800 | |
| Northern | Gobindgarh | 24,800 | -1,000 | 29,600 | -900 |
| Southern | Hyderabad | 24,500 | -1,000 | 27,300 | -900 |
| Bangalore* | 23,300 | -800 | 30,500 | -500 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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