The induction furnace route rebar market remained weak today both in terms of prices and buying enquiries. Rebar prices declined on the third consecutive day by INR 100-750/t in most markets, SteelMint assessment shows. However, in a few locations, manufacturers kept offers stable and provided trade discounts as per market requirements. Volatile semi-finished steel prices are resisting traders from booking adequate rebar volumes. Sources say that rising inventories at mills may keep prices under pressure.
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