On July 10, SteelOrbis reported offers in the Raipur (central east India) and Durgapur regions (east India) at INR 37,000-37,700/mt ($538-549/mt) ex-works excluding GST for 12 mm rebar from medium to small mills.
According to sources, demand for long steel rebar products is still limited in both regions mentioned above with prices at medium sized mills now at INR 35,300-36,000/mt ($512-522/mt) ex-works. The Raipur prices are reportedly on the lower side of the range. Prices declined $26/mt from the bottom of the previous range and $27/mt from the top of the same range.
Sources report a continued large INR 4,000-5,500/mt ($58-80/mt) gap between the medium to small mills offer prices and those reportedly quoted by the larger firms.
USD = INR 68.73 (Jul 10)
USD = INR 68.92 (Jul 24)