Author: Piyush S Verma
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India: Weak demand keeps dragging IF re-bar prices down
Induction furnace (IF) route re-bar prices declined further by INR 100-500/t, d-o-d, in most major markets in India, SteelMint assessment shows. Sustained paucity of demand in the spot market and limited future bookings have resulted in rising inventories at mills that are pressurising re-bar manufacturers to adjust offers. Tradable prices depend upon the price parity…