Indian rebar and MS billet prices fall, signalling the arrival of off season. The fall in rebar prices proportionally higher than that in MS billet.
Rebar offers in Raipur (central India) has fallen sharply in all major markets in India by INR 1,000/MT. Other markets too declined in the range of INR 300-700/MT in last one week. Currently, rebar is being offered in Raipur at INR 29,200/MT, Mumbai at INR 29,300/MT, Durgapur at INR 27,900/MT, Hyderabad at INR 28,200/MT for 12 mm (basic price, excise duty & other taxes extra).
Major reason behind the fall in rebar prices across India is the onset of monsoon, which keeps demand away from the market. In Raipur, prices are likely to be under pressure in the upcoming days. As power situation has become normal now, production will increase.
As per a well known rebar manufacturer in Raipur, “Demand was quite better last week but it is likley to remain slow in the current week owing to low offtake.” He also added that hike in import duty on long products by 2.5%, which is an increase by INR 500-600/MT, will be a marginal impact in domestic market.
Indian Billet and Rebar prices
| Region | City | Billet | W-o-W | Rebar# | W-o-W |
| Central | Raipur | 25,000 | – 650 | 29,200 | – 1,000 |
| Eastern | Durgapur | 24,900 | – 200 | 27,900 | – 500 |
| Western | Ahmedabad | 27,000 | – 400 | 30,100 | – 500 |
| Mumbai | 26,800 | – 400 | 29,300 | – 700 | |
| Jalna | 26,700 | – 300 | 29,800 | – 700 | |
| Northern | Mandi Gobindgarh | 28,900 | – 800 | 33,600 | – 300 |
| Southern | Hyderabad | 25,700 | – 200 | 28,200 | – 300 |
| Chennai | 26,300 | + 350 | 30,300 | 0 | |
| Bangalore | 26,250 | – 250 | 30,100 | -300 |
Basic Prices as on 22 Jun’15, #=12 mm, *Ingot price
Excise duty & CST/VAT extra
Source: SteelMint Research
Leave a Reply