The induction furnace route rebar market remained subdued for the fifth day in a row on account of both weak buying enquiries and prices. Prices declined further by INR 200-700/t in most supply regions on 18 Jun’21, SteelMint assessment shows. In a few markets, sellers preferred to keep offers stable and provide discounts as per market requirements. Volatile semi-finished steel prices are pressuring rebar prices down, while the advent of monsoon in parts of the country has affected spot trading activity, sources reported.
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