Poor offtake crushes Re-bar further at various mandis' on
Thursday.
Prices corrected by Rs 100-400/MT at mandis' like Durgapur,
Mandi Gobindgarh, Raipur, Mumbai & Kutch.
According to market players in Indore, “Despite of a declining
price trend, the pick up in demand is yet slow. If the situation remains same for
a couple of days more, then further price correction won't be surprising at all.”
Meanwhile, Re-bar prices at mandis in South such as Hyderabad
& Bangalore have remain unchanged in past few days.
According to a manufacturer in Hyderabad, “the capacity utilization
has come down to 40-50% in order to cater the fall in demand. So, there is not
much change in prices. The Power cuts have also been eased down to 1 day in a week
from the earlier 2-3 days in a week.”
According to a trader in Bangalore, “Steel market in South
is more dependent upon demand from infrastructure sector. So, a slowdown in
construction activities, power crisis, labour shortage have altogether hit the steel
sector badly here. The day to day ups and down will not determine the exact market
trend. The over trend for finished market here at present is dull”
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