Secondary rebar market observed moderate demand and limited buying inquiries today in most of the major supplying locations. Rebar prices moved up by INR 100-300/t d-o-d, as per SteelMint price assessment. It is learned that most of the rebar manufacturers have held back their offers to settle the previous booking orders. Also, minor fluctuation in semi-finished (ingot/billet) steel prices by INR 100-200/t was noticed. Market participants shared that demand from the project segment has remained supportive, however in the retail segment, slight selling pressure has been noticed since the last couple of days.
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