India: Secondary rebar prices increase by up to INR 1,700/t ($23)

Rebar prices of mid-sized mills have increased by INR 800-1,700/t d-o-d in most of the major supplying locations. Current trade price for 10-25 mm rebar stands at INR 41,000-41,300/t exw Raipur and INR 44,300-44,600/t exw Jalna. Active demand, higher raw material cost and price increase in other competitive markets led to this sharp hike in rebar prices today, sources told to SteelMint.