Major induction furnace-route rebar manufacturers based in Jalna, Maharashtra have hiked prices by INR 1,500/t d-o-d on the back of improved buying enquiries. Offers for Fe 500 grade rebar of 10-25mm size stand at INR 63,500/t exw, till the time of publishing this report. Supply shortage and rising prices of raw material (melting scrap) also supported finished steel prices, SteelMint learnt.
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