India: Rebar Trades of Secondary Mills Witness Improvement

Indian medium scale mills have raised their rebar offers amid decent trade volumes in overall regions and the price range have been increased by around INR 400-1,200/MT (USD 5-17), W-o-W.

Slight improved procurement in finish long steel was reported at the traders and retailers end with the prospective mode of positive direction in domestic market. Price uptick is generally seen pre festive season (Diwali) due to active construction works as after festival the works get slow owing to the absence of workers.

Further the trade participants stated that, prices should sustain with minor variation of INR 300-500/MT in coming days.

Also retailers are hopeful to sell sufficient volumes as consumption usually improves from home segment and due to funds from government being initiated in major locations, as reported by stockiest.

In addition it should be noted that, following better demand, trade discounts remain limited in different locations and reduced by around INR 200-400/MT which was observed around INR 800-1,200/MT in northern region.

However in southern India, few traders & manufacturers have shared that monsoon may disturb finish long – rebar sales and supply movement which would perceive dull sentiments in particular locations where construction activities have slowed down.

Trade Updates (Rebar – 12 mm)

-- Raipur based Real Ispat (GK TMT) is offering at INR 33,200/MT (up by INR 200/MT).
-- Raigarh(Chhattisgarh) based Scan Group branding (Shrishti TMT) is offering at INR 31,400/MT (up by INR 300/MT).
-- Gujarat based Diamond TMT is offering at 32,100/MT (up by INR 100/MT).
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is offering at INR 31,900/MT FoR. (up by INR 200/MT).
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 32,400/MT FoR
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,500/MT.
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 31,300/MT.
-- South region Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is current offering at INR 31,500/MT.
-- Chennai based J.R. Metal Chennai Ltd. (JR TMT) is current offering at INR 31,500/MT.
-- Chennai based Kamachi Industries Ltd. (KAMACHI TMT) is current offering at INR 33,000/MT.

Note – Prices are mentioned as basic and excluding GST & subject to re-confirmation.