Major mills in western India reduce re-bar prices up to INR 1,000/t

Maharashtra- and Gujarat-based leading IF re-bar producers have slashed Fe500 grade re-bar prices by INR 500-1,000/t. The current offers for 12mm re-bar are at INR 61,000/t FOR Ahmedabad, Gujarat, INR 61,500/t exw Jalna, Maharashtra, and INR 62,700/t exw Mumbai, Maharashtra, excluding GST. Declining semi-finished steel prices and the gradual build-up in inventories at mills are pressuring manufacturers to cut prices.