The secondary TMT market saw limited buying enquiries and spot trading on 2 Aug’21 despite re-bar prices remaining strong in major markets. SteelMint recorded an increase in prices of re-bar in the range of INR 100-400/t d-o-d. As per sources, the narrowing conversion spread from billet to re-bar and minor fluctuations in semi-finished steel prices have prompted manufacturers to either increase or hold their offers despite limited transactions. TMT prices on a daily basis are expected to fluctuate slightly depending upon steel billet prices.
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