Rebar prices are firm in west and south India, but it fell in rest of the markets.
Rebar manufacturers based in Wada (Mumbai) and Jalna have increased their offers by INR 500-700/MT W-o-W, following rise in ingot/ billet prices.
However, other major markets like central and east India have reported to reel under price pressure in the same duration as no major demand coming from outstation markets.
In the similar lines, rebar prices in south India have been steady since a couple of weeks despite weak buying at current price level.
As monsoon season end, it is anticipated that demand is likely to be better as the construction work started to pick up in the upcoming month.
Rebar manufacturers based in Wada (Mumbai) are currently offering 12 mm material in the range of INR 24,600-24,800/MT (basic price, excise duty and other taxes extra). While, manufacturers are offering the same size material at INR 23,800-24,000/MT in Jalna and INR 22,000-22,200/MT in Raipur.
Indian billet and rebar prices as on 23 Aug’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 19,500 | -100 | 22,000 | -300 |
| Eastern | Durgapur | 1,9400 | -400 | 21,400 | -400 |
| Western | Mumbai | 21,500 | +200 | 24,700 | +700 |
| Ahmedabad | 20,850 | -200 | 23,200 | +200 | |
| Northern | Gobindgarh | 22,350 | -350 | 26,800 | -100 |
| Southern | Hyderabad | 21,000 | 0 | 23,900 | 0 |
|
Bangalore* |
20,800 | 0 | 25,500 | 0 |
Basic Prices in INR/MT, excise duty and other taxes extra
Source: SteelMint Research
Note: Prices are basic
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