India: IF grade rebar prices remain strong despite limited buying inquiries

Induction route-rebar market witnessed limited trade activities today in most of the major supplying regions. Despite this, prices remained strong and in some regions, increased by INR 100-700/t d-o-d, SteelMint assessment shows. Higher raw material price and lower production at mills prompted rebar sellers to keep their prices high despite limited demand. The rebar prices in the near term may remain supportive with no major changes, sources told SteelMint.