India’s induction route rebar prices increased today by up to INR 800/t d-o-d in major supplying markets except in Southern India, SteelMint assessment shows. As per trade sources, rebar prices remained supported by raw material cost and moderate demand in the project segment while in the retail segment inadequate buying inquiries troubled manufacturers. However, production cuts by approx. 50% and even more in some regions due to shortage of Oxygen supply to industries may keep rebar prices strong in the near term.
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