The induction furnace re-bar market witnessed weak buying enquiries and trading activity on 17 Sep’21. Owing to Vishwakarma Puja and uncertain market trends in semi-finished steel prices, spot trading in re-bar and construction steel slowed down. High inventories at mills are also putting pressure on re-bar prices. However, manufacturers have adopted a wait-and-watch policy and are expected to adjust prices as per billet price movements.
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