Induction furnace route rebar prices in India have hit a three-month low, as SteelMint came to learn from market participants in the eastern, central and western regions. The factors cited for the price decline are inadequate access to material by the retail segment over restricted timings announced by the different state governments along with the Centre, not to forget the delayed payment cycle amid restrained purchasing power witnessed during the last few months. Current rebar prices stand at INR 43,600-800/t, exw Raipur, and INR 43,500-44,000/t, exw Durgapur.
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