India: Bhagyalaxmi Rolling Mill reduces rebar offer by INR 800/t

Bhagyalaxmi Rolling Mill Pvt Ltd, (Polaad TMT), one of the leading rebar mills in Jalna, Maharashtra has lowered rebar offers by INR 800/t ($11). Current offers for 10-25 mm rebar stands at INR 48,500/t, exw. Limited buying inquiries, higher inventories at mills, price gap with other competitors and lower billet prices prompted the company to reduce offers, sources told SteelMint. The company has a daily rebar production capacity of around 2,000 t.