Central and East India based secondary rebar market has witnessed a price rise of INR 300/MT to INR 24,700-25,300/MT. While, other markets fell by INR 100-400/MT W-o-W.
After a continuous dull report in rebar market, demand is heard to pick up in last one week especially in Central India. Meanwhile, rebar manufacturers based in Raipur have also increased offers by INR 200-300/MT.
Bulk deal for 12 mm rebar took place in Raipur at INR 25,100-25,200/MT (excise duty and other taxes extra) in past few days. Major quantities of material had been supplied to the border of Maharashtra, MP and few parts in UP.
In western markets like Mumbai, rebar prices have declined by INR 300/MT owing to low sales and continuous fall in imported scrap offers. Market participants expect declining imported scrap offers is likely to put pressure on rebar prices in coming days.
Jalna based rebar manufacturers had supplied material majorly to Pune region owing to better viability. Currently, 12 mm rebar is being offered in Jalna at INR 26,200/MT (basic price, excise duty and other taxes extra). Freight from Jalna to Pune is around INR 1,000/MT.
Indian billet and rebar offers
| Region | City | Billet | W-o-W | 12 mm Rebar | W-o-W |
| Central | Raipur | 22,100 | 0 | 25,250 | + 150 |
| Eastern | Durgapur | 22,300 | + 600 | 24,700 | + 200 |
| Western | Mumbai | 23,200 | 0 | 26,400 | – 300 |
| Jalna | 23,100 | 0 | 26,200 | – 100 | |
| Northern | Gobindgarh | 25,300 | 0 | 30,000 | – 100 |
| Southern | Hyderabad | 23,000 | 0 | 25,300 | – 200 |
| Bangalore | 22,850* | – 450 | 27,400 | – 400 |
Basic prices as on 14 Oct’15; excise duty, CST/VAT extra
*Ingot price
Source: SteelMint Research
Note: Above prices are basic, excise duty & other taxes extra
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