Induction furnace (IF) grade rebar prices fell by INR 100-500/t d-o-d across major supply regions in the country, as per SteelMint reports. Trade sources are of the opinion that prices remain weak due to low buying interest from the project and retail segments. In addition, falling semi-finished steel prices are forcing rebar manufacturers to reduce offers. However, a slight improvement in buying enquiries was observed today in a few specific markets, although that is less likely to support the current daily price range, sources said.
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