On November 21, SteelOrbis reported that small to medium-sized mills in India were pricing domestic rebar at INR 36,600-36,800/mt ($515-518/mt) ex-works Raipur, excluding GST. Sources inform SteelOrbis that rebar (12 mm) from medium-sized mills now range at INR 34,800-36,200/mt ($494-514/mt) ex-works including the regions of Maharashtra (central west India) and Chhattisgarh (central east India, including Raipur). A narrower ex-Raipur regional pricing was not provided at the time of publication, but a source noted that “rebar overall decreased the equivalent of $4-5/mt over the period since November 21 with some short-lived increases to INR 35,500-37,000/mt through December.”
USD = INR 71.08 (Nov 21)
USD = INR 70.44 (Jan 10)