Excess monsoon has halted rebar sales majorly in west & central India.
Indian secondary rebar market seems to be quite dull during last week as no major trade activities took place. The prime reason was continuous monsoon across India that halted rebar sales.
During previous week, there was no major price movements reported in the finished material.
Few large rebar manufacturers based in Raipur have also reported today that demand is quite dull from last few days owing to excessive rainfall in MP and Maharashtra as these two are bigger consumption market.
He also added that rebar sales is most likely to get affected in the ongoing week.
At present, Raipur based small/medium size manufacturers are offering 12 mm at INR 22,800-23,000/MT (basic price). While, few large rebar manufacturers/premium brand are offering the same size material at around INR 24,500-25,000/MT.
Indian billet and rebar prices as on 11 Jul’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 20,300 | -100 | 23,000 | -300 |
| Eastern | Durgapur | 20,350 | +550 | 22,400 | +100 |
| Western | Mumbai | 21,400 | -400 | 24,600 | -200 |
| Ahmedabad | 23,000 | +400 | 24,500 | +100 | |
| Northern | Gobindgarh | 23,550 | +50 | 27,400 | -400 |
| Southern | Hyderabad | 21,800 | 0 | 24,800 | +200 |
| Bangalore* | 21,500 | -100 | 26,700 | 0 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
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