Indian local rebar prices surge on strong demand

The price of rebar in the Indian domestic market surged this week by almost Rs1,200 ($18) per tonne to Rs25,400-25,700 ($379-383) per tonne ex-mill for 28mm bars on Friday February 17.

This was up from a price range of Rs23,700-24,500 ($353-365) per tonne ex-mill about a week ago. The spike in secondary rebar prices was a result of strong demand from central and eastern parts of the country, according to market participants. “Prices have been falling for more than a month. Buyers were postponing bookings to take advantage of the falling prices, but now everyone has rushed to buy, which resulted...

Published

Suresh Nair

February 17, 2017

18:00 GMT

Mumbai