Induction furnace-route re-bar prices fluctuated by INR 200-700/t today while in a few markets, manufacturers kept prices stable owing to adequate future booking orders. Weak sentiments in semi-finished steel prices and limited demand for rebar steel on higher prices are slowing down trading activity. This is putting pressure on manufacturers to adjust prices as per availability of material at mills, previous booking orders and buying enquiries in the market, sources reported to SteelMint.
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