Gujarat-based Mono Steel India Ltd (Mono TMT Fe 500) has decreased re-bar prices today by INR 500/t. The current offer for 12 mm material stands at INR 49,100/t FOR Ahmedabad (excluding GST). In the last couple of days, the company has reduced prices by INR 800/t mainly due to limited demand in the spot market, lower price parity in other markets and downward price corrections in semi-finished (ingot/billet) steel, sources told SteelMint. Mono Steel has a rolling capacity of 0.22 mn t/year.
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