India: Re-rollers in Raipur slash re-bar offers by up to INR 500/t

Mid-scale rolling mills in Raipur, Chhattisgarh, have decreased re-bar (10-25mm) offers by up to INR 500/t, d-o-d, to INR 45,000/t. Limited demand and sufficient inventory levels forced the rolling mills to adjust prices to facilitate material lifting for future bookings. However, the conversion spread remained quite low, hovering below INR 2,500/t from billet to re-bar (10-25 mm), as per SteelMint assessment.