On June 6, SteelOrbis reported that the Indian domestic rebar price from medium sized mills for rebar in the ex-Durgapur (eastern India) and ex-Raipur (central India) markets was reportedly at INR 41,700/mt ($624/mt) ex-works. The price corresponds to 12mm rebar.
Sources inform SteelOrbis that prices began to trend downward to an average of INR 40,750/mt ($604/mt) ex-works for both regions mentioned above on June 12. Prices on June 15 are reportedly trending slightly upward at INR 41,250/mt ($605/mt) in both areas from that downward slip. Due to currency fluctuations, the price only increased $1/mt.
A source added that prices in Maharashtra, on the eastern side of India toward Mumbai, are slightly lower than the price stated above.
USD = INR 66.83 (Jun 6)
USD = INR 67.47 (June 12)
USD = INR 68.16 (June 15)