According to Mining News Pro -As per producers, in current circumstances rebar inventory levels have increased by 15-20% in comparison to average levels.
Further as per participants, the re-rollers have somehow managed to prevent downfall up to certain levels to maintain the conversion spread as rebar prices went down by INR 800-1,000/MT, whereas raw material (Billet) price went down by INR 1,000-1,200/MT and maximum by INR 1,400-1,500/MT in East region on weekly basis.
The industry experts believe, overall mixed sentiments may lead to further price corrections in Indian rebar market. However, if the Semis prices find support, rebar prices may follow suit.
Trade Updates
-- North region based Rathi Steels has unchanged their rebar prices on day basis & offering 12 mm at INR 40,500/MT ex-works & excluding GST.
-- Central region, Raipur based brand - SPEED TMT has decreased their price by INR 500/MT on day basis and current offering at INR 36,000/MT (28 mm), ex-work & excluding GST.
-- Jalna based rebar manufacturer Bhagyalaxmi Rolling Mill Pvt Ltd branding as Polaad tmt decrease their prices by INR 200/MT on day basis and offering basic rebar at INR 37,200/MT, ex-work & excluding GST.
-- Shakti Ferro Alloys in Chennai, South region has offered Rebar at INR 43,500/MT (12 mm) and Billet offering at 38,000/MT unchanged their prices on day basis, ex-work & excluding GST.
-- Chennai based manufacturer Kamachi Industries Ltd branding as KAMACHI TMT offering 12 mm Rebar (Fe 550) at INR 43,000/MT, ex-plant & excluding GST.
-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT unchanged their prices on day basis and current offering rebar at INR 47,200/MT FoR & including GST at 18%, Size – 20 mm, Sponge P-DRI at 25,500/MT and Billet at INR 35,600/MT, excluding GST.
-- The large mills rebar offers hovering at INR 43,500-44,000/MT ex-Mumbai, size 12-25mm & excluding GST. As per participants, looking at continuous increase iron ore prices, the large players (SAIL, Tata Steel, RINL, JSW Steel & JSPL) are most likely to increase its long steel prices by INR 500-1,000/MT in starting of Oct’18.
