The induction furnace re-bar market witnessed weak buying enquiries and trading activity, resulting in a drop in prices by INR 200-1,300/t on 23 Nov’21, SteelMint assessment shows. While manufacturers at a few locations chose to keep offers stable in the hope of improving transactions, they were ultimately forced to offer trade discounts. Weak sentiments in the semi-finished steel market impacted spot trading in rebar.
Leave a Reply