India’s rebar market is experiencing contrasting movements, with secondary rebar prices declining due to steady supply, while primary rebar prices remain firm amid supply shortages. Secondary rebar in Raipur dropped to INR 46,000-46,500 per tonne as demand weakened, whereas primary rebar in Mumbai held at INR 58,000-58,500 per tonne, supported by ongoing government infrastructure projects.
Market speculation suggests primary rebar prices could rise by INR 1,000-1,500 per tonne as supply remains constrained due to maintenance at major steel mills, including Tata Steel, SAIL, and JSW Steel. The upcoming monsoon season is expected to maintain strong demand for primary rebar, potentially sustaining higher prices despite broader market sluggishness.
