Induction grade rebar market today witnessed limited buying inquiries. The prices fell by INR 100-200/t d-o-d in most of the major supplying regions. However in few markets of Western region, rebar manufacturers reduced their offers by up to INR 800/t to maintain price parity with the competitive markets amid limited future bookings. As per trade sources, rebar demand in the near term may weaken due to the upcoming Holi festival holidays. The prices may also fluctuate slightly following semi-finished steel prices. SteelMint expects.
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