Indian Re-bar gains without much improvement in buying interest

Re-bar prices gain further without much buying taking place in the market as MS Ingot prices stays firm.

12 mm in Ahmedabad traded at Rs 39,500/MT i.e. up by Rs 300/MT. According to traders, “Prices are moving up as raw material cost remains high. Actual buying interest is still missing.”

Prices in Hyderabad however remained unchanged and according to market players in Hyderabad, “There is slight improvement in demand from finish manufacturers anticipating a sign of relief in sand mining issue soon.”