In the primary market, prices for 12-32mm IS 1786 Fe 550D grade rebar stands at INR 51,000-51,500/t (USD 607-613) ex-Mumbai, while in the secondary market, 12-25mm IS 1786 Fe 500D rebar is priced at INR 42,000-42,200/t (USD 500-502) ex-Raipur.
Although September is typically a restocking period, demand has improved slightly compared to July and August. Rebar prices have remained stable, unlike the declines seen in August, a Mumbai-based trader said, adding that a significant amount of restocking is still pending.
Demand is expected to remain soft during the Shraddh Paksh period, with a recovery anticipated in October. Buyers are also cautious due to ample stocks of DRI, pig iron, and billets, as well as reduced funding for government projects and liquidity issues caused by GST compliance.
The MSME sector, which has been particularly affected by the shift from cash to credit transactions, faces delayed payments, further weakening large-volume purchases.
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