Muted buying enquiries drag down rebar prices in central India

  • IF-route rebar prices corrected by INR 200/t to INR 52,000/t exw in Raipur following dull demand in the spot market amidst correction in steel billet prices. About 1,200 t of transactions were recorded in today’s session.
  • Market participants said that inventory was pilling up at mills which could lead to sales pressure and further correction in prices in the short term.

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