Indian rebar market remains to be silent for the last couple of days as no major trade activity is taking place owing to festive season.
Rebar prices in the southern India have fallen upto INR 500-1,000/MT W-o-W. In other major markets like central India also prices have fallen by INR 300/MT while in West India offers continue to remain firm in the same duration.
At present, rebar producers are offering 12 mm material in the range of INR 24,800-25,000/MT (basic price, excise duty, VAT/CST extra) in ex-Raipur, INR 25,800/MT in ex- Hyderabad, INR 26,700/MT in ex-Mumbai.
A large rebar manufacturer based in Hyderabad stated, “ We are still expecting that prices in semi-finish and finish steel may fall further by INR 500/MT in the next few days as demand is very less at current rate.
He also added that poor payment condition is also not supporting market.
Indian billet and rebar prices as on 10 Oct’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 22,500 | -100 | 24,800 | -300 |
| Eastern | Durgapur | 22,000 | 0 | 24,300 | 0 |
| Western | Mumbai | 23,800 | +300 | 26,700 | -100 |
| Ahmedabad | 24,100 | -600 | 27,200 | +300 | |
| Northern | Gobindgarh | 25,200 | 0 | 29,300 | +300 |
| Southern | Hyderabad | 23,000 | -1,000 | 25,800 | -1,000 |
| Bangalore* | 23,200 | -800 | 28,600 | -500 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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