Maharashtra-based induction furnace rebar manufacturers have reduced prices by INR 300-700/t, d-o-d, today. The current offer for Fe 500 grade (10-25mm) rebar stands at INR 51,300/t exw-Mumbai, while in Jalna rebar prices of similar size and grade are in the range of INR 50,700-51,000/t exw. Rising inventories at mills and weak spot demand have led to a fall in prices.
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