India: IF-route rebar prices decrease by up to INR 500/t d-o-d

Induction furnace-route rebar prices dropped by INR 100-500/t across the regions due to lack of buying enquiries. The fall in raw material (billets and sponge iron) prices since last couple of days impacted trades and transactions in rebar steel. Further, manufacturers are forced to decrease their rebar prices, market participants told.