India: IF rebar prices rise sharply by up to INR 2,400/t, d-o-d

IF rebar prices strengthened for the second consecutive day in major markets. Prices witnessed a sharp hike of INR 500-2,400/t, d-o-d, on the back of rising raw material prices and further improvement in demand. Rebar prices in the near term are expected to remain supported in the western and central regions. At other locations, minor changes are likely depending on semi-finished steel prices.