The induction grade rebar prices strengthened in all the major supplying regions of India. Prices increased on the back of higher raw material cost and moderate transactions of rebar steel in the spot trade market. Rebar prices in the near term may remain supportive specifically in a few major markets of Western region, while in other regions, minor fluctuations can be seen depending upon buying inquiries and movement of semi-finished steel prices, sources reported to SteelMint.
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