Rebar prices in Indian secondary market fell by upto INR 1,300/MT in a week’s time.
Since the starting of current week, rebar prices have continued to fall in secondary market. In turn, retailers prefer not to hold stock at present till market get some stability.
Secondary rebar manufacturers have reduced offers by INR 1,000-1,300/MT in a week’s time and by INR 100-300/MT in a day across India.
Even rebar manufacturers are offering discount on bulk buying in order to clear off their inventory owing to upcoming holi festival.
Most of the Hyderabad based rebar manufacturers are offering at INR 26,500/MT (basic price) for 12 mm, but actual deal concluded at INR 26,300/MT. Similar situation is taking place in other markets too like central and west India.
A large rebar manufacturer based in central India shared, “Sales of rebar may get disturbed till holi festival and we are optimistic after festival only.”
Indian billet and rebar prices as on 18 Mar’16
|
Region |
City | Billet | D-o-D | W-o-W | 12 mm Rebar | D-o-D |
W-o-W |
| Central | Raipur | 22,100 | -200 | -1,350 | 25,100 | -100 | -1,200 |
| Eastern | Durgapur | 21,700 | -100 | -1,100 | 24,300 | -200 | -1,300 |
| Western | Mumbai | 23,800 | -400 | -1,500 | 27,200 | -100 | -1,200 |
| Ahmedabad | 24,200 | -500 | -2,000 | 27,400 | -100 | -1,200 | |
| Northern | Gobindgarh | 25,200 | -150 | -1,350 | 30,000 | -100 | -1,000 |
| Southern | Hyderabad | 25,000 | 0 | -1,000 | 27,500 | -300 | -1,200 |
| Bangalore* | 23,700 | 0 | -400 | 30,600 | 0 | -100 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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