Secondary rebar manufacturers have increased their offers during Mar’16 by upto INR 1,600/MT. Whereas in Feb’16, prices had increased by upto INR 2,500/MT.
Indian rebar manufacturers continue to increase prices in Mar’16 as the month of March is the peak time for construction activities that supports demand.
Major increase in prices were witnessed in central and south India by around INR 1,500/MT, followed by east and west India by INR 100-500/MT.
Rebar prices in Mumbai were quite volatile in Mar’16. In the beginning of the month, prices were assessed at around INR 27,200/MT (basic price) for 12-32 mm, which moved up to INR 28,400/MT in the middle of the month and fell to INR 27,300/MT at the month end.
Conversion gap between billet and rebar has also fallen in Raipur, Durgapur and Mumbai. Major fall seen in Raipur and Mumbai by INR 400-500/MT.
| Region | City | Billet | M-o-M | 12mm Rebar | M-o-M | Monthly Average rebar prices (Mar’16) | Monthly Average rebar prices (Feb’16) | % Change | Monthly Average conversion spread (Mar’16) | Monthly Average conversion spread (Feb16) | % Change |
| Central | Raipur | 22,900 | 900 | 26,500 | 1,400 | 25,500 | 25,300 | +1% | 2,900 | 3,400 | -15% |
| Eastern | Durgapur | 22,900 | 850 | 25,400 | 500 | 24,900 | 24,500 | +2% | 2,600 | 3,000 | -13% |
| Western | Mumbai | 24,650 | 650 | 27,300 | 100 | 27,500 | 27,300 | +1% | 3,000 | 3,400 | -12% |
| South | Hyderabad | 25,500 | 1,500 | 28,700 | 1,600 | 27,800 | 26,000 | +7% | 2,800 | 2,500 | +12% |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
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