Indian Rebar Trades Slowdown After Sharp Surge in Prices
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Indian Secondary Rebar prices sharply surge by INR 1,000-2,000/MT on weekly premises with consideration of healthy trade volume in overall regions. However since couple of days, the trades have been slow down in line with higher prices, as per participants.
As per them, in current circumstances there is limited buying interest in the domestic market and prices may register slight corrections if situation persist further.
It is to be noted that, due to weak demand in last couple of days the prices slump close to INR 300-700/MT in major locations and trade discounts hovering depends upon the quantity.
It also observed that Industrialist's doesn't bothered to get new bookings as deliveries still pending of exists order in plants but in view of current production participants are not enough active for bulk procurement.
Current trade reference prices registered at INR 37,500-37,700/MT Ex-Raipur & INR 39,000-39,200/MT Ex-Jalna.
Trade Updates (12 mm)
-- North region based Rathi Steels current offering around at INR 40,100/MT, Ex-Delhi.
-- Central region, Raipur based - SPEED TMT unchanged their price & current offering INR 37,800/MT.
-- Central region Raipur based Kamdhenu TMT current offering at INR 40,000/MT.
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) current offering around INR 39,700/MT FoR.
-- Gujarat based, M D Indo Cast Ltd. (Rudra TMX) current offering at around INR 40,800/MT FoR.
-- Jalna based Rajuri Steel Pvt Ltd (Rajuri TMT) decreased their prices by INR 300/MT to INR 39,000/MT.
-- Mahalaxmi TMT based in Wardha - Maharashtra decreased their prices by INR 300/MT to INR 38,500/MT.
-- Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) decrease their prices by INR 500/MT to INR 39,500/MT.
-- South region - Chennai based ARS (500 D) unchanged their offering at INR 41,900/MT.
-- South region based Prakash Ferrous Industries Pvt. Ltd (Tirumala) current offering at INR 41,000/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are day basis.
