India: IF grade rebar prices decline by up to INR 300/t

The induction furnace route rebar market observed limited buying enquiries today. Rebar prices declined by INR 100-300/t for the second day in a row, SteelMint assessment shows. In most of the major markets, manufacturers preferred to keep offers stable and floated trade discounts depending upon requirements and booking volumes. Stability in semi-finished steel prices and a minor improvement in buying enquiries, although varying from mill to mill, are encouraging sellers to keep rebar offers stable, sources said.