Induction furnace (IF) grade TMT prices fell by up to INR 400/t d-o-d except in a few markets in the western and southern regions of the country, as per SteelMint reports. Lack of buying enquiries and subdued trade in the spot market led to the fall in re-bar prices. Declining semi-finished steel prices in the northern region have lowered transactions in the market today pushing re-bar manufacturers to adjust trade prices. TMT prices in the short run are expected to fluctuate across markets, sources informed.
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