Domestic re-bar (TMT) prices in Indian market kept unchanged primarily on improved demand and low production. Although steel futures on NCDEX (National Commodity Exchange) fell down over 1% in the morning trade.
Current offers for re-bar stands at Rs 34,000- 36,000/t [$630-670/t] (Basic Prices, 12mm) up by Rs 2,000/t from last month.
Market participants highlight that there is limited scope of prices going up further specially after NMDC has cut its iron ore prices by 6%.
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