India: Rebar prices likely to stay heated till fiscal-end
Dec 17, 2020 11:00
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Prices of rebars seem to have gone through the roof of late, fuelled by the double whammy of scorching iron ore prices and a sharp upturn in pent-up demand from the infrastructure construction sector. What’s more, steel manufacturers do not expect prices of rebars, which have been hovering around the sky-high INR 51,000 per tonne (t) levels, for 12-32-mm categories, to cool down unless input costs and demand, both of which determine rates, become tepid.
Prices of rebars ex-Mumbai, manufactured through the BF route touched their highest-ever levels of 2020 in November, at INR 43,700/t and are expected to move further north in the coming months, supported by rising domestic demand that suppliers are unable to keep pace with. Earlier, these prices travelled from INR