A few large mills have slashed their finished long steel offers by up to INR 1,500/t ($20) for Jul ’21 sales, sources informed SteelMint. The current offer for rebar (12 mm) stands at around INR 51,000/t ex-Mumbai, excluding GST. The key factor to be considered behind price adjustments is high inventories amid seasonal slowdown in demand that has disrupted overall sales. However, transaction prices through trade channels are hovering at INR 49,000-49,500/t, ex-Mumbai.
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