State owned -Steel Authority of India Limited (SAIL) has cut rebar offers by INR 700-800/MT for the June deliveries.
A distributor based in Delhi/ NCR mentioned “Currently, SAIL is offering rebar at around INR 33,500/MT (excise duty included, VAT/CST extra) for 12-32 mm in Delhi/NCR projects while in retail segment it is offering with an increment of INR 500/MT”.
Southern based major steel makers namely RINL (Vizag steel) has already reduced thier offered by INR 500/MT starting June’16.
A dealer based in Chennai said that, “Currently rebar offers by RINL (Vizag steel) is around 34,400/MT for specific sizes like 12, 20, 25, 28, 32 mm in retail segment. He also added that the company is likely to reduce their offers further by INR 500/MT by looking at low offtake”.
Price gap between primary and secondary producers
Currently, primary steel manufacturers are offering rebar in the range of INR 33,000-33,500/MT (excise duty included, VAT/CST extra) for 12-32 mm in Mumbai. While, secondary rebar producers are offering the same size material at around INR 29,000/MT.
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