India: Rebar Demand in Secondary Market Awaits Clarity
India's rebar demand in secondary market has remained dull amid slow material movement at current price range, reported by market participants.
As per SteelMint assessment, thin trade volume and low buying inquiries can raise selling pressure and this may result slight price corrections in near term as offers have narrowed down today by INR 100-200/MT on D-o-D basis.
However in Central and Western regions - industrialists shared that, inventories are on average levels owing to considerable trade volume in last week and might not impact significantly. However if lack of response continues then prices might come down, they added.
Further, Central region Chhattisgarh (Raipur) based re-rollers association has increased rebar guage parity by INR 300/MT to INR 2,500/MT (12-25 mm) w.e.f. 05th Mar'19 and basic size considered with 28 mm.
On weekly basis, prices surged up to INR 1,500/MT particularly in East region and in rest of the locations by around INR 500-1,000/MT.
Trade Updates ( Rebar 12 mm)
-- Central region, Raipur based - SPEED TMT unchanged their current offering INR 37,200/MT.
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) current offering INR 39,800/MT FoR.
-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT current offering at INR 39,800/MT FoR (Down by INR 200/MT).
-- Jalna based Rajuri Steel Pvt Ltd (Rajuri TMT) current offering at INR 39,100/MT (Down by INR 300/MT).
-- Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) unchanged their offering at INR 39,100/MT.
-- Chennai based ARS Steel (ARS 500 D) current offering around at INR 41,600/MT.
-- South region based Prakash Ferrous Industries Pvt. Ltd (Tirumala) current offering at INR 40,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are day basis.
source: SteelMint
Top News
Six last month
Two last year
China, Indonesia seal $10 billion in deals focused on green energy and tech
Copper price, stocks are being hammered as Trump tariff, China worries mount
Codelco copper production rises in September, Escondida dips
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Top gold ETF sees largest weekly outflow since 2022 on Trump win
US judge narrows investor lawsuit against Rio Tinto over Mongolian mine
Japan, Peru to agree on cooperation in mineral mining technology
MinRes halts Bald Hill mine amid lithium price rout
Ahead of Rio Tinto buyout, Arcadium’s profit dips on sliding lithium prices
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Lithium in nascent rebound, but long-term outlook is bleak
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
MinRes halts Bald Hill mine amid lithium price rout
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Zimbabwe to end tax relief for miners to spur mineral processing
Australian iron ore giants’ shares sink on disappointing China stimulus
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
MinRes halts Bald Hill mine amid lithium price rout
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Zimbabwe to end tax relief for miners to spur mineral processing
Australian iron ore giants’ shares sink on disappointing China stimulus