India: IF grade rebar prices increase further by up to INR 1,300/t ($18)

Induction grade rebar prices picked up by INR 500-1,300/t d-o-d in all the major supplying regions. Active demand & buying inquiries in rebar steel and increasing raw material costs remained as the major factors behind rise in prices. Prices in the near term may remain supportive in most of the major markets, owing to appropriate future booking orders with manufacturers, sources reported to SteelMint