Author: Piyush S Verma

Weak seasonal demand and falling sponge iron and billet prices continue to weigh on rebar prices. Raipur-based GK TMT and GOEL TMT have both reduced rebar (10-25 mm) Fe 500D prices by INR 500/t ($7) to INR 48,000/t, exw and excluding taxes. Finished steel prices are likely to remain under pressure as demand continues to…