India: IF grade rebar prices continue to stay supported on rising billet prices

Induction grade rebar prices continued its uptrend on the back of rising semi-finished steel prices in the leading markets of north and central regions. The manufacturers in these regions either kept their offers high or slightly adjusted on discounts as per the requirement. Weak demand and rising inventories at mills in the western region is likely to keep prices under pressure, while in the other regions, it may depend on the movement of billet prices, sources told SteelMint.