Induction furnace re-bar prices remained volatile on a daily basis across regions. However, a major downfall was observed in the western region by up to INR 900/t. Improving semi-finished steel prices in the leading markets of the north and central regions provided support to the market and buying enquiries for re-bar improved marginally in most regions. Manufactures are also maintaining offers at a stable level and making marginal changes in discounts. After a sharp decline in prices in the western region, demand and booking volumes are increasing in the spot market.
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