IRON and STEEL
Indian secondary rebar demand remained subdued across region with limited buying interest from traders & retailers amid higher inventory levels seen from major supplying regions as price level reduced by INR 400-800/MT across regions.
Trade volumes exist lower than average volume and mounting stock urging industrialists to maintain the supply chain with considerable trade discount and further assumption by trade participants is the price range should change as per market requirement.
Backlog orders are yet to be lifted by traders and associates which were booked by more than couple of weeks amid high liquidity crunch along with upcoming monsoon, drought issue in south as well as west region with prospective hampering construction activities might get place.
Further, participants from few major locations assume that price range might get contracted for immediate cash inflow for due electricity bills and to prevent further burden.
Trade Updates (Rebar 12mm)
-- Central region, Raipur based - SPEED TMT has unchanged their offers at INR 35,000/MT.
-- Real Ispat (GK TMT) is current offering at INR 37,500/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 36,600/MT FoR.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 35,900/MT.
-- Jalna based Rajuri Steel Pvt Ltd (Rajuri TMT) has maintained their offers at INR 35,800/MT.
-- Chennai based J.R. Metal Chennai Ltd. (JR TMT) is offering at INR 36,800/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis & prices are subject to re-confirmation.