India Steel Market Watch
November 9: TMT rebar offers declined on low demand levels from end-users, industry sources told ISMW.
Prices were down by Rs 800 per ton in Rourkela, Rs 800 per ton in Bangalore, according to data available with ISMW. TMT offers declined by Rs 200 per ton in Jaipur and Rs 500 per ton in Chennai, sources said.
Prices of TMT brands like Gyan fell Rs 1,350 per ton to Rs 36,850 per ton.
High inventory at retailers’ end kept most stockists away from market, sources said. The ongoing festivals in most parts of the country delayed procurement, sources said.
Delay in payment and increase in production will lead to higher selling pressures on manufacturers due to the ongoing festivals, sources added.
Following are TMT prices in different markets:
TMT (12 mm) prices in different markets |
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Market |
Price (basic) on Nov 7 |
Price (basic) on Oct 31 |
W-O-W |
Rourkela |
27700 |
28500 |
-800 |
Bangalore |
30600 |
31400 |
-800 |
Durgapur |
NA |
NA |
NA |
Jaipur |
24700 |
24900 |
-200 |
Chennai |
28500 |
29000 |
-500 |
Market |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Weekly change from 10.31.2015 |
Monthly Change from 10.10.2015 |
TMT |
|||||||
Mandi Govindgarh |
|||||||
12 mm |
|||||||
Kamdhenu |
|
|
|
|
|
N/A |
N/A |
Jyoti |
|
|
|
|
|
N/A |
N/A |
Bharatmata |
|
37300 |
37000 |
36000 |
|
N/A |
N/A |
Fortune |
|
|
|
|
|
N/A |
N/A |
Doaba |
|
|
|
|
|
N/A |
N/A |
HP Rashtra |
|
|
|
|
|
N/A |
N/A |
Geo Gold |
|
|
|
|
|
N/A |
N/A |
Gyan |
36750 |
36800 |
36650 |
35500 |
36850 |
1350 |
100 |
10 mm |
|||||||
Patna (Balmukund) |
|
|
|
|
|
N/A |
N/A |
Jaipur |
|||||||
12mm |
|||||||
Gemini |
|
|
|
|
|
N/A |
N/A |
Mangala |
|
|
|
|
|
N/A |
N/A |
Sharma |
|
|
|
|
|
N/A |
N/A |
Gaziabad |
|||||||
Kamdhenu |
|
|
|
|
|
N/A |
N/A |
Source: Traders