India: Secondary mills’ rebar prices remain volatile

Induction grade rebar prices remained volatile today across the regions. As per SteelMint’s assessment –

• Prices in North, East and a few markets in the Southern region saw an increase by up to INR 600/t d-o-d, underpinned by supply shortage and moderate buying inquiries in few markets coupled with rising billet prices.
• In Central and Western regions, lack of demand due to lockdown kept rebar prices under pressure. However, sellers adjusted their offers and offered discounts as per the raw material price movement.