Rebar prices in the secondary market have fallen by INR 300-800/MT W-o-W, except in central India.
Indian rebar prices in the secondary market fell by INR 200-800/MT in major market during a week. Major downfall is seen in west India, especially in Mumbai by INR 800/MT in the same duration.
Major reason behind fall in rebar prices in Mumbai and Jalna is lack of buying from end-users/ traders.
Another important reason is that primary steel producers like SAIL, RINL and Tata Steel have reduced their rebar offers by INR 500-1,000/MT in the starting of Jun’16, which has also affected secondary market.
However, rebar prices in central India (Raipur) were more or less unchanged in last one week as demand supported from neighboring states, majorly from Madhya Pradesh and also there was shortage of material, reported a rebar manufacturer.
As per sources, few small/medium size manufacturers based in Raipur had concluded a deal at INR 23,900-24,100/MT (basic price) for 12 mm mainly for neighboring states like MP, border of Maharashtra including Nagpur in the last few days.
Indian billet and rebar prices as on 14 Jun’16
|
Region |
City | Billet | W-o-W | 12 mm Rebar |
W-o-W |
| Central | Raipur | 21,050 | 0 | 24,000 | -50 |
| Eastern | Durgapur | 20,600 | -150 | 23,200 | -300 |
| Western | Mumbai | 22,500 | -300 | 25,300 | -800 |
| Jalna | 22,400 | -700 | 25,400 | -500 | |
| Northern | Gobindgarh | 24,200 | -400 | 28,500 | 0 |
| Southern | Hyderabad | 22,000 | -500 | 25,000 | -300 |
| Bangalore* | 21,500 | -400 | 26,600 | -600 |
Basic prices in INR/MT; excise duty and CST/VAT extra
* Ingot price
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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