On September 21, SteelOrbis reported that domestic rebar prices from small to medium-sized mills in India were at INR 39,100-39,400/mt ($541-545/mt) ex-works Raipur (central east India).
A source noted that demand for rebar in the country continues to be subdued due to some uncertainty in the domestic economy and flow of investment capital. Sources inform SteelOrbis that domestic rebar prices are now at INR 37,900-38,300/mt ($514-520/mt) ex-works Raipur. Prices decreased $27/mt from the bottom of the previous range and $25/mt from the top of the same range. The source added that the price range is on a slight uptrend from a “lower level achieved around October 4.”
A source noted that in the state of Maharashtra, on the western side of India, rebar prices were trending closer to INR 38,600/mt ($524/mt) ex-works from small to medium-sized mills.
USD = INR 72.26 (Sep 21)
USD = INR 73.70 (Oct 12)