Induction-grade rebar market today remained quiet in terms of spot trade activities and buying inquiries. In most of the major supplying regions, prices dropped by INR 100-600/t d-o-d. As per sources, continuously falling semi-finished steel prices have weakened the demand for rebar steel because traders are not willing to procure amid market uncertainty. The prices in the near term are expected to remain weak as there is a need to maintain price parity with other competitive markets.
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