The secondary rebar market saw limited buying enquiries and trading on 5 Aug’21, not unlike the last couple of days, due to minor fluctuations in semi-finished steel prices. Rebar manufacturers either held offers stable or prices fluctuated in the narrow range of INR 100-200/t on a d-o-d basis. Market participants informed that rebar prices in the short-term may vary owing to higher raw material prices and the shrinking conversion spread (from billet to rebar) due to which sellers are not willing to reduce prices despite dull demand in the spot market.
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