Secondary rebar manufacturers have increased offers by INR 200-300/MT in major Indian market as demand has improved slightly.
Secondary rebar manufacturers have increased offers by INR 200-300/MT in major Indian market due to pick up in demand within last 1-2 day. Last week, rebar offers had decreased by around INR 2,000/MT across India.
In south India, it seems that rebar buying is quite better in Hyderabad from within and outside the state. Today, few deals in the state have concluded at INR 25,000/MT (basic price, excise duty & other taxes extra) for 12 mm rebar.
As per a trader based in Bangalore, “Presently, 10-25 mm material is offered by Bangalore based rebar manufacturers at INR 32,400-32,600/MT (including E.D & VAT) and the same size material is offered by Hyderabad based manufacturers at around INR 31,000/MT FoR Bangalore”.
He also added that viability is quite better now from Hyderabad to Bangalore, but no major booking has been done as demand is not very good.
Indian billet and rebar prices as on 12 Jan’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 21,550 | +300 | 25,500 | +200 |
| Eastern | Durgapur | 21,500 | +350 | 24,700 | +500 |
| Western | Mumbai | 22,800 | +100 | 26,700 | +200 |
| Jalna | 22,500 | -400 | 26,100 | -200 | |
| Northern | Gobindgarh | 24,000 | +200 | 28,400 | +300 |
| Southern | Hyderabad | 22,250 | +250 | 25,100 | +300 |
| Bangalore* | 22,000 | -450 | 27,600 | -400 |
Basic prices in INR/MT; excise duty and CST/VAT extra,
* Ingot price
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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