Indian Large Players Re-bar Inventories Fall to Around 650,000 MT in Oct- SteelMint
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Inventories of construction steel re-bar with large mills in India dropped to ~650,000 MT at the end of October, according to recent survey done by SteelMint.
According to estimates, these numbers were about ~900,000 to 950,000 MT at the end of September. Large mills (specially private) have been aggressively liquidating their inventories since Sept end.
Large steel players (BF route) produces about 14 MnT per annum. RINL being the largest player, followed by JSW
Price gap narrows between large and medium mills
It is observed that price difference between large mills and medium mills have narrowed down significantly. 12-25mm re-bar prices by large mills were assessed at INR 33,500-34,000/t ex-Delhi in Oct'19 (before price hike of Nov) against INR 32,000/MT of mid sized mills. May'19 rebar average price of mid sized mills INR 37,450/MT by mid sized mills on ex-Delhi basis and price gap between large and medium mills generally stay between INR 4,000-4,500/t.
| India Bar & Rod Production | ||||
| Producer | FY17 | FY18 | FY19 | FY20 (Till Sept'19) |
| SAIL | 2.43 | 2.48 | 2.44 | 1.16 |
| TSL | 3.13 | 3.18 | 3.14 | 1.54 |
| RINL | 2.98 | 3.41 | 3.59 | 1.56 |
| JSPL | 0.68 | 0.68 | 1.08 | 0.84 |
| JSWL | 2.33 | 2.45 | 3.27 | 1.62 |
| OTHERS | 23.38 | 23.33 | 24.41 | 14.59 |
| Total | 34.93 | 35.53 | 37.91 | 21.31 |
Qty. in MnT, Source: Joint Plant Committee
Note: Numbers are for unsold inventories at mill levels - which includes plant site and company ware houses. These numbers do not include billet and material sold but not lifted.
Disclaimer: The information provided is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, SteelMint does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided
