Jalna (Maharashtra) and Gujarat-based induction furnace route re-bar producers have further slashed re-bar Fe 500 prices by INR 800-1,000/t. The current 12mm re-bar offer by Mono TMT (Gujarat) stands at INR 47,500/t, while Jalna-based KALIKA and POLAAD TMT offers for 10-25mm stand at INR 47,000/t. Declining semi-finished steel prices and gradual rise in inventories at mills owing to limited trading on the spot market are pressuring manufacturers to cut prices.
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