India: Secondary rebar market remains dull on weak semi-finished steel prices

Induction furnace grade rebar prices declined further by INR 100-600/t d-o-d in most of the major supply regions of the country, with the exception of the Mumbai market where steady transactions for the last couple of days have prompted rebar sellers to raise prices by INR 600/t. A sharp fall in semi-finished steel prices by up to INR 900/t impacted spot trading activities today. Across regions, most manufacturers either reduced or kept prices stable, offering trade discounts depending upon previous booking orders, as per SteelMint reports.