Buying volumes in finished steel markets continue to be low. Hence, Re-bar prices have either remained unchanged in some of the locations or have reduced in the range of Rs 100-500/MT in states like Maharashtra, Pujab, Chhattisgarh and Goa.
Traders are of the view that rains have affected demand for the material and it will be too early to say if offers will sustain at these levels.
“We expect prices might correct further in next week, as construction activity has slowed down and off take for finished steel is poor.” said a local trader based in Mumbai.
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