Induction route-rebar prices today sharply declined by up to INR 1,000/t in most of the major Indian markets, while the same fell by INR 2,000/t in Jalna (Maharashtra), which is one of the major supplying markets of Western region. The manufacturers reduced prices because of lack of buying inquiries since the last couple of days and disparity in prices between sellers and resellers. Along with this, corrections in billet prices in all regions led to a significant drop in rebar steel prices, sources reported to SteelMint.
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