Secondary rebar manufacturers have increased prices by INR 1,000-2,000/MT W-o-W. Major increase of INR 2,000/MT is seen in Bangalore market.
After a prolong dull rebar market, secondary rebar manufactures were quite happier during last 1-week. Good demand from traders and end-users coupled with government’s initiatives to control cheap imports has supported prices.
Rebar prices have increased more than MS ingot/billet prices, which indicate better buying in finished steel market.
Rebar offers across India have surged in the range of INR 1,000-1,300/MT W-o-W. But, Bangalore market has witnessed sharpest rise of INR 2,000/MT among all other Indian markets.
A trader based in Bangalore said, “Sales of rebar have improved, but there is also shortage of material, due to which prices have increased sharply in past two weeks.”
Current offers for 12 mm rebar stood at INR 32,100/MT (including all taxes) in Bangalore.
He also added that traders and end-users prefer to buy material from Bangalore based rebar mills rather than buying from outside states, especially from Hyderabad owing to unviability.
Indian billet and rebar prices as on 14 Dec’15
| Region | City | Billet | W-o-W | 12 mm Rebar | W-o-W |
| Central | Raipur | 20,450 | +700 | 24,000 | +1,000 |
| Eastern | Durgapur | 20,000 | +200 | 23,100 | +1,000 |
| Western | Mumbai | 22,400 | +500 | 25,700 | +700 |
| Jalna | 23,000 | +1,400 | 26,200 | +1,300 | |
| Northern | Gobindgarh | 23,450 | +300 | 27,800 | +300 |
| Southern | Hyderabad | 22,500 | +1,000 | 25,500 | +1,300 |
| Bangalore | 21,850 | +1,000 | 27,100 | +2,000 |
Basic prices in INR/MT; excise duty and CST/VAT extra
Source: SteelMint Research
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