Secondary rebar manufacturers continue to increase offers in-line with surge in ingot/billet prices.
Secondary rebar manufacturers are persistently increasing offers since the starting of this week owing to rise in semi finish steel prices. However, trade activities are very limited in the same period.
Rebar offers in major Indian market rose by INR 100-300/MT in a day, except in Bangalore, where offers fell by INR 500/MT.
Earlier, rebar manufactures based in central India mainly Raipur and Raigarh used to supply material in bulk to north India owing to better viability. However, there is no viability at present. Currently, price gap between Raipur and Ghaziabad is just INR 1,500/MT, which was used to be in the range of INR 2,000-3,000/MT earlier.
A large manufacturer based in north India is currently offering material at INR 32,500/MT FoR Delhi (including, excise duty, VAT & freight) for 12, 16, 20 and 25 mm sizes.
Similarly, majority of rebar manufacturers based in Raipur are currently offering at INR 25,500-26,000/MT (basic price, excise duty and other taxes extra) for 10 and 12 mm sizes. However, few large manufactures are offering at INR 26,400-27,000/MT for the same grade material.
Indian billet and rebar prices as on 13 Jan’16
| Region | City | Billet | D-o-D | 12 mm Rebar | D-o-D |
| Central | Raipur | 21,850 | +350 | 25,700 | +2,00 |
| Eastern | Durgapur | 21,750 | +250 | 24,800 | +100 |
| Western | Mumbai | 23,100 | +300 | 26,900 | +200 |
| Jalna | 22,800 | +300 | 26,300 | +200 | |
| Northern | Gobindgarh | 24,300 | +100 | 28,600 | +200 |
| Ghaziabad* | 23,700 | +500 | 27,200 | +300 | |
| Southern | Hyderabad | 22,500 | +250 | 25,200 | +100 |
| Bangalore* | 22,000 | 0 | 27,100 | -500 |
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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