The induction grade-rebar prices strengthened in all the major supplying regions in India. Prices witnessed an increase by INR 100-1,000/t d-o-d on the back of sharp hike in raw material costs and slight improvement in buying inquiries and transactions of rebar steel. Rebar prices in the near term are expected to remain supportive particularly in the leading markets of Western and Central regions, while in the other regions, minor fluctuations can be seen depending on the buying inquiries and movement of semi-finished steel prices, sources reported to SteelMint.
Leave a Reply