India’s induction grade rebar market witnessed limited buying inquiries today in most of the markets, as traders were cautious to book a hefty volume on the current prices. Minor correction in semi-finished steel was also one of the factors behind slow trades. Even though manufacturers kept their offer at a higher range due to adequate previous orders in hand and less inventories at mills. As per trade sources, rising melting scrap prices in the global market and limited availability in the domestic market may keep rebar prices range-bound in the near term.
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