Indian secondary rebar market observed average demand and limited buying inquiries, today. Despite this, prices increased by INR 200-500/t due to higher raw material cost. In a few major locations in eastern and western region, manufacturers held their offer owing to adequate previous booking orders in hand. Price hike by primary mills for Dec’20 deliveries and rising raw material cost may keep secondary rebar prices strong in the near term, sources shared with StellMint.
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