India: IF grade rebar prices firm on surging raw materials costs

Induction furnace grade rebar witnessed moderate trade activities on 4 Jun’21 in most of the major markets in the country, as per SteelMint reports. Higher raw material costs, however, kept prices firm. Prices rose by up to INR 800/t d-o-d in a few markets. As raw material costs are increasing, rebar traders happen to be closely monitoring the domestic and global markets before placing orders amid prevailing lockdown restrictions and lack of workers at construction sites.