In the week – 10, Indian rebar prices saw a slight change despite sharp fall in billet prices. During the week rebar prices fluctuated by INR 100-300/MT while billet prices slumped up to INR 1,000/MT.
The manufacturers in the rebar market reported a constant demand, so prices remained volatile.
Further on wire rod market the prices corrected following weak demand for the product for some time, Raipur up to INR 700/MT and in Durgapur by INR 100-200/MT.
The trade participants in the wire rod Industry stated that, buyers are cautious looking at higher price expecting that prices may remain downward due to healthy stock available with the manufacturers & the stockiest as well.
Outlook for the pursuing week (Week – 11)
– According to the Industry sources, rebar prices to remain supportive as sales are quite stable.
– Wire Rod manufacturers may hold on to the current price level. However, major price change will be more dependent on the billet price movement.
Domestic Rebar & Wire Rod Prices for Week 10 (as on 4th Mar)
|
Region |
City | Rebar (12 mm) | W-o-W | Wire Rod (5.5mm) | W-o-W | ||
| 25th Feb | 4th Mar | 25th Feb |
4th Mar |
||||
| Central | Raipur | 29,100 | 29,100 | 0 | 30,700 | 30,000 | -700 |
| East | Durgapur | 28,000 | 28,100 | +100 | 28,350 | 28,250 | -100 |
| North | Gobindhgarh | 32,400 | 32,200 | -200 | – | – | |
| South | Hyderabad | 30,000 | 29,900 | -100 | – | – | – |
| West | Mumbai | 30,900 | 31,000 | +100 | – | – | – |
Basic prices in INR/MT, excise duty & other taxes extra
Source: SteelMint Research
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