India: IF route rebar market remains dull for third day in a row

The Indian secondary rebar market was quiet today and buying enquiries fell for the third day in a row. However, in most of the major markets, rebar prices fluctuated by INR 100-300/t d-o-d, as per SteelMint reports. Increasing semi-finished steel prices in the leading markets of north and central India prompted manufacturers to keep their offers stable. However, lack of demand forced most producers to adjust trade prices. Prices in the short-term are expected to remain weak, especially in the western region. In other markets, rebar prices will depend on billet price movements, sources said.