India: Prices Up in Secondary Rebar Market

Medium Scale Rebar offers have moved up amid improvement in raw material prices but trade volume is not so significant in due to lack of buying inquiries in central regions and north region in D-o-D basis.

Whereas west region (Maharashtra) has registered positive sentiments today with lifting of piled up stocks amid positive approach by participants and Industrialist's are assuming prices to likely support in immediate term.

Further, west region (Silvasa) based few induction mills might are expected to get operational in coming week which were closed since from month back due to inappropriate safety measures.

South region (Chennai) market has average trades and price range almost remain same from last week itself and few renowned mills expecting some correction due to limited sales and considerable stock exist in particular mills.

Trade Updates Rebar (12 mm)

-- North region based Rathi Steels increased their prices by INR 300/MT to INR 38,600/MT.

-- Central region, Raipur based - SPEED TMT increased their prices by INR 300/MT to INR 35,200/MT.

-- Raigarh based Anjani Steels Ltd. Radhe TMT increased their prices by INR 300/MT to INR 35,500/MT.

-- Raigarh based Scan Group branding Shrishti TMT slightly increase their offering to INR 35,200/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT increased their prices by INR 200/MT to INR 38,400/MT FoR.

-- Gujarat based, Mono Steel (India) Ltd. Mono TMT slightly increased their offers by INR 200/MT to INR 38,050/MT FoR.

-- Jalna based Rajuri Steel Pvt Ltd Rajuri TMT unchanged their prices at INR 36,300/MT.

-- Jalna based Kalika Steels Alloys Pvt. Ltd. Kalika TMT unchanged their offering at INR 36,300/MT.

-- Shakti Ferro Alloys in Chennai, SSI TMT unchanged their offering at INR 37,000/MT & TI Macho at INR 41,900 MT.

Note - Prices mentioned above are ex-work, excluding GST & changes are day basis.