Central India: Raipur’s major mid-scale mill reduces rebar price by INR 500/t ($7)

Raipur, Chhattisgarh based Real Ispat & Power Ltd (GK TMT), has reduced its rebar offer by INR 500/t to INR 34,500/t exw for 10-25mm size. Industry sources stated that weak demand along with falling sponge iron & billet prices resulted in this significant drop in rebar prices. Sponge & billet prices dropped by INR 700-800/t, w-o-w in Raipur.