India: IF rebar offers rise by up to INR 1,000/t at major locations

IF rebar manufacturers in Raipur, Raigarh and Jalna have increased offers today by INR 700-1,000/t. The current offer for Fe 500 grade rebar (12-25 mm) was assessed at INR 46,800-47,000/t exw-Raipur and INR 49,000/t exw-Jalna. Rally in raw material prices and improvement in buying enquiries pushed manufacturers to increase offers. Reduction in inventories at mills indicates that prices may remain supported, SteelMint notes.