India: Major mills in Raipur slash rebar prices by up to INR 700/t

Raipur-based leading rebar producers, GK TMT and GOEL TMT, have reduced Fe 500D grade rebar prices by INR 500/t and INR 700/t, respectively. The current offer for 10-25 mm rebar stands at INR 53,500/t exw. Declining semi-finished steel prices amidst rising inventories at mills – owing to poor material offtake – is prompting producers to slash prices, SteelMint learnt from trader sources.