Secondary rebar manufacturers based in north India have increased their offers by INR 300-600/MT. However, trade activities remained dull.
Secondary rebar manufacturers based in north India, especially Mandi Gobindgarh and Muzaffarnagar have increased their offers by INR 300-600/MT in a day in-line with increase in semi finish prices.
However, demand seems to be insignificant in the same location as no major trading activities are taking place owing to ongoing holidays.
As per a rebar trader based in Muzaffarnagar, ”Presently, almost all rebar manufacturers based in Muzaffarnagar are offering at INR 27,000-27,400/MT (basic price) for 12-25 mm, depending on the brand.”
He also added that a large size rebar manufacturer/ premium brand based in north India is offering for Delhi/NCR region at around INR 28,400/MT (basic price) for the same size material.
There is also a strong rumour in the market that Steel Authority of India Limited, a state-owned company, has revised its rebar prices again for Apr’16. But, there is no such announcement has been done by the company.
In the starting of the current month, SAIL has increased rebar prices by INR 1,000/MT and currently offering at around INR 35,500/MT for 12 mm (excise duty included, CST/VAT extra) for Delhi/NCR in projects.
Indian billet and rebar prices as on 14 Apr’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,600 | +50 | 25,900 | +100 |
| Eastern | Durgapur | 22,900 | +150 | 25,200 | +200 |
| Western | Mumbai | 24,450 | +50 | 27,650 | +50 |
| Ahmedabad | 25,050 | +200 | 27,900 | +100 | |
| Northern | Gobindgarh | 25,650 | +200 | 30,000 | +300 |
| Muzaffarnagar* | 24,500 | +100 | 27,000 | +600 | |
| Southern | Hyderabad | 24,500 | 0 | 27,700 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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