Rebar prices increase sharply by up to INR 1,300/t in western India

Maharashtra, western India-based induction furnace rebar manufacturers witnessed active demand and trades in the spot market over the last few days and some key suppliers informed that there exists huge shortage of different sizes and grades of rebar in the region. These factors have pushed prices higher by INR 800-1,300/t to INR 58,300/t exw Mumbai and INR 59,000/t exw Jalna for Fe 500 rebar (10-25mm) on 24 Feb’22.