Prices of induction route-rebar have witnessed an upward trend today, increasing by INR 100-700/t d-o-d in most of the major supplying regions in India, SteelMint assessment shows. However in terms of spot demand and trade activities, manufacturers witnessed limited bookings specifically from the retail segment. According to them, rising raw material (semi-finished) cost supported rebar price rise. Prices in the near future may depend on the movement of semi-finished steel prices as rising COVID 19 cases are impacting buying inquiries, sources said.
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