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.

News No: 4058
Date: 2019/03/17 - 17:51
News Source: SteelMint

India  Rebar  material  industrialists  Steel 


Leave a Comment:


India: Bulk Pig Iron Export Volumes Halve in FY'19

According to customs data maintained with SteelMint, bulk Indian pig iron export volumes have come down sharply by 50% in FY19. India has exported 221,260 MT pig iron in FY’19 as against 446,250 MT in FY’18. In the month of March pig iron exports from India recorded at 50,000 MT against nil from the previous month.

Chinese Steel Market Highlights - Week 15, 2019

This week Chinese steel prices witnessed significant increase in domestic market following hike in iron ore prices fueled by limited supply in global market.Also strong futures, improved domestic demand along with higher profit margins lead to uptrend in Chinese steel prices.

Russia: MMK Steel Doubled Steel Shipments to Vietnam in CY18

As per sources, one of the world's largest steel producer and a leading Russian metal company Magnitogorsk Iron and Steel (MMK) has doubled its metal shipments to Vietnam in CY18 as compared to CY17.

Indian Steel Market Weekly Snapshot

Indian Steel industry observed average inquiries during the Week-15 (9th to 13th Apr) owing to election mood in the country. In context to supply scenario, the production of Semis & Finished steel products more or less on same proportion, this led to volatility in prices.

Global Ferrous Scrap Market Overview - Week 15, 2019

Major global scrap markets observed price correction on weak demand globally. Turkish steel mills booked cargoes at lowered prices amid subdued steel demand. Japan's monthly Kanto tender for Apr'19 fetched bids lower by USD 15 against last month.

MSC transport fleet used to send popular aid to flood-stricken areas in Lorestan Province

After heavy floods hit Golestan and Lorestan provinces, managers and staff members of Mobarakeh Steel Company (MSC) joined people from across the country and dispatched aid, cash and in kind, to the stricken areas in the northeast and west of the country.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners