Rebar offers fall by INR 500-1,500/MT W-o-W in major Indian market; major fall seen in West India.
Rebar manufacturers have declined rebar offers by INR 500-1,500/MT W-O-W owing to fall in ingot/billet prices, coupled with weak demand in the domestic market. Trades are very limited owing to the ongoing festive season.
Major fall was seen in Mumbai market by INR 1,000/MT in a week and yesterday it fell by INR 400-500/MT. Delhi/NCR market fell by INR 1,000/MT, central and east India fell by by INR 500/MT in the same period.
It seems rebar manufacturers are facing selling pressure due to high inventory, coupled with low buying from the end-user. As the market fell, traders and stockists have purchased the material on anticipation of improvement in demand after the end of the festivals.
A rebar manufacturer based in Mumbai shared, “Rebar offers are likely to remain under pressure in near future owing to weak global and domestic market”.
Indian Billet and Rebar Offers
|
Region |
City | Billet | W-o-W Change | M-o-M Change | Rebar# | W-o-W Change |
M-o-M Change |
| Central | Raipur | 23,000 | – 350 | – 1,300 | 25,900 | – 400 | – 1,800 |
| Eastern | Durgapur | 22,700 | – 1,000 | – 1,400 | 25,600 | – 500 | – 1,700 |
| Western | Mumbai | 24,000 | – 500 | – 1,700 | 27,100 | – 1,000 | – 2,000 |
| Jalna | 24,000 | – 500 | – 1,800 | 26,900 | – 600 | – 1,400 | |
| Northern | Gobindgarh | 26,150 | – 550 | – 1,350 | 31,000 | – 800 | – 1,000 |
| Southern | Hyderabad | 24,000 | – 500 | – 1,000 | 26,500 | – 500 | – 1,200 |
| Bangalore* | 23,700 | – 450 | – 850 | 28,300 | – 100 | – 800 |
Basic Prices as on 29 Sept’15,* Ingot price,# 12 mm
Excise duty, CST/VAT extra
Source: SteelMint Research
Note: above price are ex-plant basis, excise duty & other taxes extra
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