Western India: Mono Steel reduces rebar offer by INR 500/t ($7)

Gujarat based Mono Steel India Ltd (Mono TMT Fe 500) has decreased their rebar offer today by INR 500/t. Current offer for 12 mm rebar stands at INR 42,850/t FoR Ahmedabad (excluding GST). Dull demand and rising inventories at the mills resulted in continuous drop in offers, sources told SteelMint. Mono Steel has a rolling capacity of 0.22 mn t pa.