Market participants inactive in rebar market ahead of holidays in the next week.
Limited trades are taking place at present in Indian rebar market owing to 2-3 holidays in the starting of next week. Additionally, traders/ stockist are also not active for taking position by looking at dull demand in near term.
Meanwhile, small/medium size manufacturers in Raipur are offering 12 mm material at INR 22,100-22,300/MT (basic price). While, few large rebar manufacturers/ premium brand are offering the same size material in the range of INR INR 23,300-23,600/MT.
In similar line, Mumbai based rebar manufactures are offering 10-32 mm rebar at INR 23,800-24,000/MT (basic price, excise duty & other taxes extra).
While, large steel manufacturers like SAIL, Tata Steel and JSW Steel across Mumbai region are offering rebar in the range of INR 28,500-29,000/MT (excise duty included, other taxes extra) for the same size material.
Almost, all re-rollers based in wada had curtailed production by upto 50% since starting of Aug’16 in order to reduce excess inventory as demand is not supportive.
Indian billet and rebar prices as on 11 Aug’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 19,500 | -500 | 22,100 | -600 |
| Eastern | Durgapur | 19,300 | -500 | 21,200 | -700 |
| Western | Mumbai | 20,900 | -500 | 23,800 | -650 |
| Ahmedabad | 20,900 | -800 | 22,800 | -1,000 | |
| Northern | Gobindgarh | 22,400 | -900 | 27,000 | -400 |
| Southern | Hyderabad | 21,000 | 0 | 24,000 | +100 |
| Bangalore* | 21,200 | -200 | 26,000 | -500 |
Prices in INR/MT, *Ingot price
Source: SteelMint Research
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