Steel rebar prices in India likely to dip further

19 February 2015

The L1 prices from an Indian steel main producer in a recent move by a major infrastructure in Week 07 for buying 35000 tonnes of rebar till March reflects down trend

It is reported that a one of the largest technology, engineering, construction and manufacturing company in private sector in India has finalized a deal to buy large quantity of steel for its construction projects from an Indian steel giant last week for the first time through reverse auction

As per available information, the deal covers supply of about 35000 tonnes of rebar of various sizes across many locations in India through local stocking points of the steel maker and is at one uniform price for all sizes and locations for deliveries in February and March.

It is learnt that all the main producers including RINL, SAIL, JSW and TATA Steel etc took part in this reverse auction and one of them has bagged the deal by quoting.