On June 28, SteelOrbis reported a downward trend for Indian domestic rebar prices at medium sized mills for rebar. Prices are reportedly trending stable but may be affected by downward list price announcements by large rebar producers.
In regards prices for July, Rashtriya Ispat Nigam Lt (RINL) and other large rebar producers have reportedly decreased list prices to INR 43,500/mt ($633/mt) ex-Southeast Indian region in Chennai for 12 mm rebar.
Sources inform SteelOrbis that list prices for large rebar producers trended at INR 34,000/mt ($520/mt) ex-Chennai through most of H2 2017 until November 2017. In December 2017, prices began an upward trend that peaked in May 2018 at INR 45,500/mt ($667/mt) ex-Chennai. List prices decreased for June and now again for July deliveries.
USD = INR 65.33 (Nov 15)
USD = INR 68.25 (May 15)
USD = INR 68.78 (Jun 28)
USD = INR 68.72 (Jul 2)