Maharashtra- and Gujarat-based rebar producers have slashed Fe 500 grade rebar prices by INR 800/t and INR 1,200/t, respectively. The current 12 mm rebar offer by Gujarat-based Mono TMT stands at INR 54,400/t FOR, while Jalna-based Polaad TMT’s offers for 10-25 mm material stand at INR 53,500/t exw, excluding GST. Falling semi-finished steel prices and rise in mill inventories are putting pressure on prices.
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