Buying of rebar improved from central, east and west India. While, it remained dull in south region.
After dull rebar market last week especially in central India, it now seems positive demand sentiments prevailing in market since the starting of the current week.
Secondary rebar manufacturers based in central, east and west India have increased offers by around INR 100-300/MT today. However, south rebar market, especially Hyderabad has slightly fallen further by INR 100-200/MT.
Major buying of rebar from Raipur is coming from the local market as well as from the Vidarbha region.
Presently, medium size rebar manufacturers based in Raipur are offering at INR 25,800-26,000/MT (basic price) for 12 mm, depending on the brand.
Similarly, few large size manufactures or premium brand in the same location are offering at around INR 27,200-27,500/MT (basic price) for 12 mm.
A wellknown rebar manufacturer based in central India said, “We saw an improvement in demand within last one day and hopefully prices are likely to move up in days to come.”
Indian billet and rebar prices as on 13 Apr’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,550 | +50 | 25,800 | +300 |
| Eastern | Durgapur | 22,750 | +150 | 25,000 | +300 |
| Western | Mumbai | 24,400 | +400 | 27,600 | +100 |
| Ahmedabad | 24,800 | +200 | 27,800 | +200 | |
| Northern | Gobindgarh | 25,450 | +350 | 29,700 | +400 |
| Southern | Hyderabad | 24,500 | -500 | 27,700 | -100 |
| Bangalore* | 24,150 | -400 | 31,000 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Leave a Reply