The induction furnace route rebar market remained rangebound, while witnessing subdued buying inquiries on 15 Jun’21. Prices decreased by INR 100-200/t d-o-d in most major markets of the country except in Hyderabad where prices fell sharply by INR 500/t. As per trader sources, limited trades have contributed to the building up of high inventories at mills. Near-term rebar prices may remain under pressure, particularly in a few supply hubs in western and central India.
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