India’s Long Steel Composite Index down by 1.3% w-o-w. Rebar prices continued to downtrend last week. Prices fell further by INR 800-1,200/t ($10-14/t) during the week amid dull buying activity in the domestic market. Rebar prices (12-32mm) in the trade segment, minus 18% GST, dropped by INR 900/t ($11/t) w-o-w to INR 54,300/t ($650/t) exy-Mumbai.Prices fell by INR 500-1,000/t ($6-12/t) to INR 52,500-53,500/t ($628-640/t) FOR Mumbai. End-users did only need-based buying.
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