India: Secondary mills’ rebar price increases by INR 100-400/t ($1-5)

Rebar prices of secondary mills increased further by INR 100-400/t d-o-d in most of the major supplying locations, owing to higher raw material prices. Demand remained strong in western market due to the project segment while in rest of the regions, it was modest, market sources reported to SteelMint. Near-term prices are likely to remain supported with continuous rise in raw material prices.