The induction furnace (IF) grade rebar market today was quiet in terms of spot trade activities and buying enquiries. In the major supply regions, prices dropped by INR 200-1,100/t d-o-d, SteelMint assessment shows. However, in the Western region manufacturers preferred to keep their offers stable and offered trade discounts, as per market requirements. Uncertainty in semi-finished steel prices is resisting rebar traders from booking hefty volumes, SteelMint notes. In the near term, rebar prices and trade volumes will hinge on semi-finished steel prices.
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