Indian Secondary Mills Increase Rebar Offers on Improved Demand

As per weekly assessment, medium scale rebar manufacturers have raised their offers by upto 1,000/MT (upto USD 14) in particular regions amid improve trade, as reported by few traders in northern region. However few locations have observed limited trade volumes and it could have its own effect likewise strengthening trade discounts due to increase in stock level.

Northern India marked sharp hike in terms of rebar price range i.e. INR 900/MT despite ban in construction activities and trade activities slightly improved as compared to the previous week and as per the recent notice is coming in this region is Trustee of Rathi Steel foundation Shri Anil Rathi apply a petition in the Delhi High Court to ban few of the re-rollers who illegal use their trademark as Rathi brand, shared by trade sources. Thus this has resulted in short supply of material in merchant market and surge in offer.

Coming to western region, where the rebar prices up by INR 400-700/MT but there was a mixed response as in Gujarat market dispatch of old bookings are going on and very limited inquiries for future trades, meanwhile the prices of finished steel remained supported as there is limited supply of semis (Billet) products in the domestic market due to better export viability.

While in Maharashtra, Jalna based participants reported better demand in rebar amid improved movement after state elections and sufficient material lifting for other locations with increase price range, shared by trade sources.

Inline with this in Durgapur, eastern India, the mills don't have much stock and the available material is booked for which dispatches are due. However future bookings are still on average basis due to marginal change in billet prices since couple of days.

The current trade reference rebar offers of 12-25 mm by mid-scale mills hovering at INR 30,000-30,200/MT ex-Raipur, INR 30,900-31,300/MT ex-Durgapur, INR 31,700-32,000/MT ex-Jalna & INR 30,800-31,100/MT ex-Chennai, Grade- Fe500 & excluding of 18% GST.

Trade Updates (Rebar 12 mm)

-- Rathi Steels based in North region has unchanged their offers at INR 34,300/MT.
-- Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 32,800/MT.
-- Raigarh based Anjani Steels Ltd.(Radhe TMT) is current offering at INR 30,500/MT.
-- Raigarh based Scan Group branding(Shrishti TMT) is current offering at INR 30,800/MT.
-- Jalna based Rajuri Steel Pvt. Ltd.(Rajuri TMT) has unchanged their offers at INR 32,100/MT.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd(Polaad TMT) has unchanged their offers at INR 32,100/MT.
-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offers at INR 32,400/MT FoR.
-- South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is current offering at INR 31,000/MT.

Note- All prices are basic & excluding GST, subject to re-confirmation.