Mumbai based prominent induction grade rebar manufacturers reduced their offer by INR 1,000/t consecutively for the second day. The current rebar offer for 10-25 mm size stands at INR 49,300/t exw. Weak demand for rebar steel specifically in the retail segment due to lockdown restrictions in the city and falling billet prices were the main reasons behind decrease in rebar offer, trade sources reported to SteelMint.
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