Western India-based rebar mills reduce prices further by up to INR 2,000/t

Mumbai- and Jalna-based induction furnace rebar manufacturers reduced prices today by INR 1,500-2,000/t. Current Fe 500 rebar (10-25mm) offers are at INR 62,700/t exw Mumbai and INR 60,500/t exw Jalna. Prices decreased due to dull demand for rebar in the spot market as selling pressure increased on rising inventories at mills.