Indian Re-bar market showed marginal gains on Saturday.
8 MM TMT in Durgapur traded at Rs 43,200/MT i.e. marginally
up by Rs 200/MT from previous price. A manufacturer based in Durgapur remarked about the current
market scenario and said, “Market is very unpredictable at the moment. Prices
are not stable. Buyers are not confident of making purchases. While
manufacturers are not sure reducing offers further as production cost remain
high.”
There is hardly few movement seen in the finished market but
prices may remain at the current level but any sharp fall is not expected, he
added.
A trader in Vizag
said, “Production of long products at VSP (Vizag Steel Plant) which came to a
hault after the explosion on Wednesday will restart after 26th of June”.
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