Producers in Maharashtra and Gujarat have slashed rebar (Fe 500, 12mm) prices further by INR 500-1,000/t on 15 Nov’21. The current offer by Gujarat-based Mono TMT stands at INR 50,900/t FOR, while offers for 10-25mm material by Mumbai-based Guardian TMT and Jalna-based Kalika and Polaad TMT are at INR 50,600 and INR 50,500/t exw, respectively. Decline in raw material prices and muted spot trading pressured manufacturers to cut prices.
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