India: IF grade rebar prices decline further on weak buying interest

Induction furnace grade rebar prices declined further by INR 100-800/t d-o-d in the major supplying regions of the country, SteelMint assessment shows. Fall in semi-finished steel prices seemed to have affected spot trading activities for rebar in the market because continuously falling prices made end users very cautious and they kept delaying their procurements. Prices on a daily basis are expected to remain weak across the regions, sources said.