Rebar manufacturers increase offers sharply by INR 1,100-2,000/MT W-o-W owing to better demand.
After a long period of downturn in the finish long market, secondary rebar manufacturers have raised offers by INR 1,100-2,200/MT in last one week across India. Major upward movement is seen in eastern region by INR 2,200/MT followed by central, western and southern by INR 1,000-1,500/MT.
Prices have moved up, from billet to rebar, as demand and sentiments improved in the entire market. Traders and retailers have begun restocking material for the upcoming season. Lot of buying was done in last 3-4 days due to continuous rise in market.
Market also believes that government is serious about imposing safeguard duty on certain steel products, which will definitively improve domestic sentiments and prices.
Supply from central India to north India may increase
Supply of rebar from Raipur to North India is improving owing to better viability. Earlier the price gap between Raipur and Delhi was hovering in the range of INR 2,000-3,000/MT, which is now at INR 4,000/MT.
Currently, rebar prices in Raipur and Delhi are at INR 26,800/MT and INR 30,600/MT respectively for 12 mm (basic price, excise duty and other taxes extra).
Indian Billet and Rebar Prices
| Region | City | Billet | W-o-W | Rebar# | W-o-W |
| Central | Raipur | 23,650 | + 1,000 | 26,800 | + 1,200 |
| Eastern | Rourkela | 23,000 | + 1,500 | 26,700 | + 1,700 |
| Durgapur | 24,000 | + 1,900 | 26,800 | + 2,200 | |
| Western | Mumbai | 25,800 | + 600 | 28,700 | + 500 |
| Jalna | 25,700 | + 800 | 28,000 | + 1,000 | |
| Northern | Gobindgarh(MGG) | 27,600 | + 1850 | 31,500 | + 1,100 |
| Southern | Hyderabad | 24,600 | + 1,100 | 27,200 | + 1,100 |
| Bangalore* | 24,550 | + 450 | 28,700 | + 300 |
Basic Prices as on 25 Aug’15, #=12 mm, *Ingot price
Excise duty, CST/VAT extra
Source: SteelMint Research
Note: Above price are ex-plant, excise duty and other taxes extra
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