Induction furnace grade rebar prices increased by INR 100-600/t day-on-day except in southern India and a few major markets in the country’s western region, as per SteelMint reports. However, trading in the spot market and buying enquiries for rebar remained limited on 21 Jul’21 despite adequate transactions observed in the last couple of days and the uptrend in semi-finished steel prices. Prices in the short term are expected to remain supported, sources said.
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