Gujarat-based Mono Steel India Ltd (Mono TMT Fe 500) has increased rebar offers today by INR 600/t. The current offer for 12mm rebar is at INR 49,100/t FoR Ahmedabad (excluding GST). Notably, the company has raised rebar price by INR 1,400/t this week. Higher raw material costs along with improved buying enquiries and trade for rebar in the spot market resulted in hike in offers, sources told SteelMint. The company has a rolling capacity of 0.22 mn t/year.
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