Induction furnace (IF) grade rebar prices fell by INR 200-1,000/t (d-o-d) on 26 May’21 across major markets in the country, SteelMint assessment shows. As per trade sources, the prices decreased owing to rising inventories at mills and lack of buying inquiries. In addition, volatile semi-finished steel prices have forced rebar manufacturers to reduce offers sharply depending on market requirements. However, a slight improvement in booking volumes was also observed today in a few specific regions that gave some support to the current daily price range.
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