Secondary rebar manufacturers based in Mumbai (Maharashtra) have slightly raised offers by INR 100-200/MT D-o-D. While, other markets remain stable.
Secondary rebar manufacturers based in Mumbai have slightly raised offers by INR 100-200/MT in a day due to supporting demand. While, there is no change has been witnessed in other Indian markets.
Presently, rebar offers by secondary manufacturers in Mumbai are assessed at INR 29,500-30,000/MT (excise duty included and VAT/CST extra) for 12 mm. Alongside, few primary manufacturers are offering the same size material at INR 29,700-30,500/MT in retail sales. This indicates that both primary and secondary rebar prices are almost trading at the same level.
It seems that there is less scope for further increase in offers in near term as prices have significantly increased by INR 2,000/MT in Mumbai since starting of the current month.
Similarly, few primary manufacturers have also increased rebar offers by INR 500-1,000/MT in the current week.
Indian billet and rebar prices as on 24 Dec’15
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,100 | +350 | 25,800 | +100 |
| Eastern | Durgapur | 21,050 | +50 | 24,500 | -100 |
| Western | Mumbai | 23,500 | 0 | 26,550 | +150 |
| Jalna | 23,650 | 0 | 27,800 | 0 | |
| Northern | Gobindgarh | 24,600 | 0 | 28,800 | 0 |
| Southern | Hyderabad | 23,500 | 0 | 25,900 | 0 |
| Bangalore* | 22,850 | 0 | 28,400 | 0 |
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
Leave a Reply