Posted on 27 Mar 2025
The Indian rebar market remains strong a week after the safeguard duty proposal, with buyers making substantial bookings in anticipation of further price increases ahead of the new fiscal year starting in April.
Primary rebar (12-32mm, IS 1786 Fe 550D) is assessed at INR 56,000-56,500/tonne ($656-662/t) ex-Mumbai, while secondary rebar (12-25mm, IS 1786 Fe 500D) is priced at INR 46,500-47,000/t ex-Raipur, according to Kallanish.
While demand remains robust, supply constraints persist due to production cuts by primary producers in January-February, market participants report.
“The rebar market is seeing significant activity. Producers had cut output earlier and were not expecting this sudden demand surge. Infrastructure and housing projects are driving demand, but stockpiling is also happening as buyers anticipate further price hikes,” says a Mumbai-based trader.
A Delhi trader adds: “Wire rod shortages have been evident in recent months, pushing up both demand and prices. Unlike rebar, wire rod production requires dedicated facilities. To meet rising demand, primary producers have ramped up wire rod output, affecting rebar supply and tightening availability.”
The HRC-rebar spread has also remained largely stable from December 2024 to March 2025, reflecting balanced demand growth. While robust construction activity supports rebar prices, steady manufacturing demand and safeguard duty rumours that had restricted its imports is keeping HRC prices firm.
Looking ahead, rebar prices are expected to stay firm, with a potential increase in April amid strong demand as summer is India’s peak construction season.
Source:Kallanish
