India: IF grade rebar prices inch up in major markets

Secondary (IF grade) rebar prices increased by up to INR 800/t d-o-d on 28 May’21 except in a few markets in western and southern India, as per SteelMint reports. Although demand and trade activities remained limited in the spot market, rising prices of semi-finished steel in the leading markets of north and central India had a country-wide impact, with rebar manufacturers either keeping their prices stable or slightly increasing offers. The trade reference price for 10-25 mm rebar stood at INR 44,700/t, however later it increased further to INR 45,000-45,200/t exw Raipur. Prices in the near-term are expected to fluctuate following movements in semi-finished steel prices.