Gujarat-based Mono Steel India Ltd. (Mono TMT) has decreased its re-bar price today by INR 500/t. The current offer for Fe500 grade 12 mm re-bar stands at INR 49,900/t FOR Ahmedabad (excluding GST). Lowered price parity in other competitive markets and limited demand – and trade – for re-bar steel in the spot market, not to mention a correction in semi-finished steel (ingot/billet) prices, are factors that contributed to a sharp fall in offers, sources told SteelMint. Mono Steel has a rolling capacity of 220,000 t/year.
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