Induction furnace (IF) re-bar prices fell by INR 100-500/t today. Lack of buying enquiries and subdued trade in the spot market are major factors behind the consistent downfall in TMT prices. Besides, declining raw materials prices have pushed manufacturers to either reduce re-bar offers or adjust trade prices. TMT prices are expected to fluctuate in the short term from region to region, depending on the steel billet price trajectory, SteelMint notes.
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