Induction furnace rebar prices surged today ranging from INR 400-1,500/t across major locations, SteelMint assessment shows. Factors behind the sharp hike in prices are:
- Improvement in buying enquiries and spot trading activity in the market.
- Healthy future booking orders with manufacturers.
- Rise in raw material prices in key markets.
All these factors indicate that prices are likely to remain supported in the coming days.
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