India: IF grade rebar price rises on costlier raw material

Induction grade rebar prices remained supportive due to consistently rising raw material (billet) prices along with active buying inquiries. As per SteelMint’s price assessment, secondary rebar prices increased by up to INR 1,300/t on a d-o-d basis in most of the major markets. Adequate future booking orders and shortage of specific sizes of rebar in a few markets of Western and Southern regions may keep prices strong in the near term, sources shared.