Domestic Rebar prices witnessed a decline, with d-o-d fall of INR 100–200 per tonne, standing at ₹43,700 per tonne (Ex-Raipur), primarily due to subdued trading activity, as buyers remained on the sidelines after substantial bookings made last week. Limited demand and a cautious buying approach have led to lower transactional volumes, particularly in central and eastern regions like Raipur and Durgapur, where billet and sponge iron prices also dropped by INR 50-100 per tonne and INR 300 per tonne, respectively. But it was seen that in the southern region like Chennai, experienced marginal support due to tight raw material supply.

Outlook:

Though the overall market sentiment remained weak, it was anticipated that rebar prices are expected to remain range-bound or witness mild corrections in the near future. Traders and mills are adopting a wait-and-watch situation amid weak demand and high inventory levels. Any significant price movement will depend on a recovery in finished steel consumption and support from broader macroeconomic factors, especially infrastructure and construction activity.