The state-owned integrated steel mills have raised finished long steel prices by around INR 1,000-1,500/t, trade sources informed SteelMint. The current offer for rebar (12-32mm) stands at around INR 50,500-51,000/t ex-Mumbai, excluding GST. The narrow gap between the induction furnace (IF) and integrated re-bar prices have propelled sellers to strengthen their offers for Aug’21 deliveries and offers can vary as per different brands, as per SteelMint reports.
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