India’s IF rebars witnessed an uptick of INR 500-1,900/t ($6-23/t) w-o-w across markets. IF-rebar, ex-Mumbai in particular, rose by INR 800/t ($10/t) to INR 52,100/t ($625/t). Average spot trades were observed amid price constant fluctuation which turned buyers cautious before making bulk procurements. However, sellers maintained their higher offer levels because of the rising prices of scrap, sponge iron and billets.
