Induction furnace re-bar prices witnessed a correction on slow material lifting from retail counters whereas traders were eager to offload the burden and offered considerable discounts to maintain the liquidity cycle. However, minor improvements in semi-finished steel prices today may either lift re-bar prices or prices could get stabilised on a d-o-d basis as a few regional rolling mills closed their offers to prevent any further disruption. Overall finished long steel transactions were not adequate enough to support prices except in the short-term.
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