India Steel Market Watch
November 3: TMT rebar prices have fallen 11-25% in the last one year, owing to depressed market conditions and low trading volumes, an analysis of historical data of ISMW showed.
Price of 12 mm TMT in Rourkela declined by around Rs 3,500 per ton or 10.93% to Rs 28,500 per ton, while prices in Bangalore declined by Rs 9,200 per ton or 22.6% to Rs 31,400 per ton.
The decline in prices had been more severe in Jaipur and Chennai, where the drop was around 25% to Rs 24,900 per ton and Rs 29,000 per ton respectively, the data showed.
Lack of implementation of large-scale construction and infrastructure projects led to the fall in TMT rebar prices during the last one year, sources said.
Structure offers fall on sluggish demand trend
India Steel Market Watch
November 3: Structure prices declined on low buying and trading support, industry sources told ISMW.
Festivals in most parts of the country also hampered procurement by end-users, sources said.
Prices of 40 angles declined Rs 500 per ton in Gobindgarh, Rs 1,000 per ton in Raipur and Rs 700 per ton in Mumbai.
Prices of 200 channels fell by Rs 500 per ton in Ghaziabad and by Rs 1,000 per ton in Raipur.
Channels of 200x75 mm are being offered by RINL at Rs 37,150 per ton (including excise, excluding VAT) ex-Vizag in October, down from Rs 40,200 per ton (including excise, excluding VAT) ex-Vizag, in September 2015.