India’s induction furnace route re-bar market remained dull for the fourth day in a row owing to weak buying enquiries and limited trades in the spot market. TMT prices declined by INR 100-400/t, d-o-d, in most major markets in India, SteelMint assessment shows. Decreasing raw material costs and dull demand remained the major factors behind falling re-bar prices. However, in a few markets, manufacturers are still keeping prices stable and offering trade discounts. Due to limited trading in re-bar, inventories are rising at mills, which indicates that prices are likely to remain under pressure.
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