Indian rebar manufacturers based in Mumbai and Jalna have increased offers by INR 400-600/MT in the last couple of days in line with the rise in ingot/ billet prices.
As per few market participants, demand for construction material looks better mainly in Mumbai owing to seasonal factors. Moreover January to March is a peak time for construction sector across India is also an indication for a positive demand of rebar.
Currently, 12mm rebar prices in Mumbai and Jalna stood at around INR 28,200/MT and INR 26,800/MT respectively. All prices are basic.
One the other hand there is no major price movement seen in other Indian rebar markets during this period. The price offers for 12 mm material are at around INR 25,000/MT (basic price, excise duty, VAT/CST extra) ex-Raipur, INR 27,500/MT ex- Hyderabad, INR 24,600/MT ex-Durgapur in some of the important markets.
Indian billet and rebar prices as on 15 Dec’16
|
Region |
City | Billet | D-o-D | 12 mm Rebar |
D-o-D |
| Central | Raipur | 22,200 | +150 | 25,000 | +100 |
| Western | Mumbai | 24,900 | +300 | 28,200 | +600 |
| Jalna | 24,000 | 0 | 26,800 | +400 | |
| Northern | Gobindgarh | 26,000 | +150 | 30,100 | -100 |
| Southern | Hyderabad | 23,500 | 0 | 27,500 | 0 |
| Bangalore* | 23,000 | 0 | 29,000 | 0 |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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