Induction grade rebar prices witnessed a sharp increase of INR 400-700/t d-o-d in the Easterrn market and a few markets of Western region (Ahmedabad). The price increased owing to rising cost of billet and slight recovery in buying inquiries. Demand and trade activities in the spot market were still dull however higher raw material cost pushed the prices high. Rebar prices on a daily basis are expected to remain supportive, sources shared.
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