According to a local trader in Raipur, Indian market
for construction steel is expected to rebound in October. Since last month
heavy rain have hit parts of the country – particularly the south and western
provinces – and this has resulted in reduced construction activity and
disrupted transport of steel products and scrap.
a trader says, “The market is so
dull that mills and stockiest have had to dispose of material at a loss in
order to maintain liquidity,”. Prices are around Rs 1,000/MT lower since August
end and it will surely go up from the fourth quarter onwards. He added
Steel rebar prices will rise during second-half October in order to reflect the
rising costs of steel production, expensive raw material.
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