Secondary rebar manufactures based in Hyderabad and Bangalore have raised offers by INR 500/MT in a day.
Today, secondary manufactures based in Hyderabad have suddenly raised their offers by INR 500/MT in both semi finish and finished steel products. Similarly, in Bangalore also, rebar offers have moved up by INR 500/MT, but there is no change in ingot prices.
As per a rebar manufacturer based in Hyderabad, “Buying is quite better this week majorily within the states.”
He also added that bulk deal were concluded in the range of INR 24,800- 25,000/MT for 12 mm (basic price, excise duty & other taxes extra). Presently, offers have increased to INR 25,500/MT for the same size material.
A trader based in Bangalore shared, “Prices have risen majorly due to shortage of material. However, demand is still average. Currently, 12 mm rebar offers are assessed at INR 31,900/MT (including all taxes) and 8 mm at INR 32,300/MT.
Indian billet and rebar prices as on 12 Dec’15
| Region | City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 20,600 | 0 | 24,150 | +100 |
| Eastern | Durgapur | 20,050 | -50 | 23,100 | – 100 |
| Western | Mumbai | 22,500 | 0 | 25,600 | 0 |
| Jalna | 23,000 | +100 | 26,200 | 0 | |
| Northern | Gobindgarh | 23,350 | -200 | 28,000 | – 400 |
| Southern | Hyderabad | 23,000 | +500 | 25,500 | +500 |
| Bangalore | 21,600 | 0 | 27,000 | +500 |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
Leave a Reply