Indian Medium Scale Rebar Market Observed Restraint Inquiries
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Indian Finish long steel - Rebar prices have been fluctuating slightly from last couple of days due to seasonal affect amid thin trade volumes in almost all the regions.
Manufacturers future bookings are very limited with filtered inquiries. However as per market participants, inquiries slightly improved in last couple of days in few regions, although they added it's very uncertain to say any firm direction for near term either price range will get sustain or not.
Further, the approaching monsoon will put some obstacle in regular supply chain movement & it might have its own effect on the Rebar market, as per participants.
Trade Updates
1. Jalna based rebar manufacturer - Rajuri Steel Pvt Ltd having monthly production capacity 60,000 MT and also aiming to increase capacity to around 90,000 to 100000 MT monthly has unchanged their prices on day basis and offering 28 mm Rebar at INR 36,500/MT, ex-work & excluding GST. As per official view trade inquiries slightly improved from last couple of days & price range should exist for near term.
2. Rathi Steels, known as price trend setter for Northern region having monthly Rebar production capacity 150,000 MT has decreased prices by around INR 250/MT and offered 12 mm at INR 43,100/MT ex-Delhi. The company largely sells finished steel to North-east regions.
3. Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT having monthly production capacity around 12,000 MT, Billet around 24,000 MT monthly & Sponge production around 18,000-19,000 MT has decreased Rebar prices by around INR 300/MT & current offering 12 mm Rebar at INR 47,200/MT FoR & including GST at 18% & Billet at INR 36,000/MT, ex-work & excluding GST.
4. Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT has unchanged prices on day basis & offering basic Rebar at INR 36,500/MT, ex-work & excluding GST.
5. Jalna based Kalika Steels producing Rebar about 25,000 to 30,000 MT per month unchanged offer on day basis & offering 28 mm Rebars at INR 36,300/MT, ex-work & excluding GST.
6. Shakti Ferro Alloys in Chennai, South Region has offered 12 mm Rebar at INR 39,500/MT & Billet at INR 34,500/MT; ex-works, excluding GST & advance payment term. The plant has monthly Rebar production capacity about 10,000 MT & Billet around 40,000 MT.
7. West Region based Bhagwati Ferro Metal (P) Ltd having monthly Rebar production capacity around 20,000 MT has unchanged prices on day basis & offers basic Rebar at INR 37,200/MT & Billet around INR 34,500/MT for Mumbai, ex-work & excluding GST.
8. Central region, Raipur based brand - SPEED TMT known as price trend setter for other brands, the prices was firm on day basis & are assessed 28mm at 37,200/MT, ex-work & excluding GST. As per Co. associates few days booking is yet to clear as the price range is roughly less than other brands near about INR 400-600/MT.
