Rebar offers in Raipur and Raigarh bridge the gap of INR 500/MT and trade at similar levels.
Seconadary rebar manufacturers across India have increased offers by INR 500-1,500/MT W-o-W. Major upward change is witnesses in Raipur upto INR 1,300/MT, followed by eastern India upto INR 1,000/MT and in south upto INR 500/MT in the same period.
Rebar offers increased owing to increase in semi-finished prices, coupled with improved buying across India. Currently, rebar offers at Raipur and Raigarh (both in Chhatitsgarh) are almost similar at INR 27,800/MT for 12 mm (ex-plant, excise duty and other taxes extra). The offers used to be lesser in Raipur than in Raigarh by INR 500/MT earlier.
As per a well known manufactuer based in Raipur, “Recent imposition of 20% provisional safeguard duty on specific HRC (flat products) for 200 days brings positive sentiment in the Indian market. We can see indirect impact on long products too.”
Indian Billet and Rebar Offers
| Region | City | Billet | W-o-W change | Rebar# | W-o-W change |
| Central | Raipur | 24,800 | + 1,400 | 27,800 | + 1,300 |
| Eastern | Rourkela | 23,800 | + 700 | 27,000 | + 900 |
| Durgapur | 24,800 | + 1,000 | 27,000 | + 300 | |
| Western | Mumbai | 25,000 | 0 | 28,500 | – 300 |
| Jalna | 25,000 | + 300 | 27,700 | + 300 | |
| Northern | Gobindgarh | 27,900 | + 800 | 32,300 | + 300 |
| Southern | Hyderabad | 25,000 | 0 | 27,400 | 0 |
| Chennai | 24,000 | 0 | 27,600 | + 500 |
Basic Prices as on 15 Sept’15, #=12 mm
Excise duty, CST/VAT extra
Source: SteelMint Research
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