India Steel Market Watch
November 3: TMT rebar offers declined on low demand from end-users, industry sources told ISMW.
Prices were down by Rs 600 per ton in Bangalore and Rs 700 per ton in Jaipur, according to data available with ISMW. TMT offers remained unchanged in Rourkela and Chennai, available data showed.
Prices of TMT brands like Bharatmata fell by Rs 1,000 per ton to Rs 37,000 per ton and Gyan fell by Rs 1,150 per ton to Rs 36,650 per ton.
Sources said domestic rebar prices were down by 7-9 percent in October, in line with the fall in billet prices and primary rebar makers have cut prices by Rs 4,000-5,000 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 pressure on manufacturers due to the ongoing festivals, sources added.
Following are TMT prices in different markets:
TMT (12 mm) prices in different markets |
|||
Market |
Price (basic) on Oct 31 |
Price (basic) on Oct 24 |
W-O-W |
Rourkela |
28500 |
28500 |
0 |
Bangalore |
31400 |
32000 |
-600 |
Durgapur |
NA |
NA |
NA |
Jaipur |
24900 |
25600 |
-700 |
Chennai |
29000 |
29000 |
0 |
Market |
Prices as on 10.03.2015 |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Weekly change from 10.23.2015 |
Monthly Change from 10.03.2015 |
TMT |
|||||||
Mandi Govindgarh |
|||||||
12 mm |
|||||||
Kamdhenu |
|
|
|
|
|
N/A |
N/A |
Jyoti |
|
|
|
|
|
N/A |
N/A |
Bharatmata |
39300 |
|
37300 |
37000 |
36000 |
-1000 |
-3300 |
Fortune |
39901 |
|
|
|
|
N/A |
N/A |
Doaba |
|
|
|
|
|
N/A |
N/A |
HP Rashtra |
|
|
|
|
|
N/A |
N/A |
Geo Gold |
|
|
|
|
|
N/A |
N/A |
Gyan |
37700 |
36750 |
36800 |
36650 |
35500 |
-1150 |
-2200 |
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