Indian Secondary Rebar Market Observes Dull Demand

Indian secondary rebar demand remains weak amid low buying interest through the traders end and increase in stock levels urged re-rollers to lower the price range.

Traders buying interest seems inactive due to liquidity issues from retail segment as payments are getting delayed since the elections are ongoing in the country.

Further, slow construction activities due to lack of labors is also affecting sufficient procurement and it's being assuming among market participants that, the prices might get slight corrections in specified regions.

However, traders are still observing slight fluctuations as rebar prices have been fall up to INR 800/MT (USD 12) and on the other hand billet prices volatile by INR 300-500/MT, W-o-W.

Trade Updates (Rebar 12 mm)

-- Central region, Raipur based - SPEED TMT prices unchanged at INR 35,800/MT.

-- Real Ispat (GK TMT) is current offering at INR 37,800/MT (down by INR 200/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offers at INR 35,600/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as (National TMT) is current offering at INR 38,600/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om TMT) has unchanged their offers at INR 37,300/MT (down by INR 100/MT).

--Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd branding as (Polaad TMT) is current offering at INR 37,500/MT.

-- Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) has unchanged their offers at INR 37,300/MT.

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