Raipur-based leading rebar producers, GK TMT and GOEL TMT, have reduced rebar Fe 500D prices of size 10-25 mm by up to INR 500/t to INR 47,500/t, exw. Lower semi-finished steel prices and gradually rising inventories at mills owing to limited trade volumes in the spot market prompted manufacturers to slash rebar prices. As per sources, TMT prices are likely to remain under pressure as demand continues to remain dull during the monsoon season.
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