Gujarat-based Mono Steel India Ltd (Mono TMT Fe 500) has further decreased re-bar offers today by INR 1,000/t. The current offer for 12 mm re-bar stands at INR 48,200/t FOR Ahmedabad (excluding GST). The company has reduced re-bar prices by INR 1,800/t this week. Higher prices compared to other markets, limited demand and trading activity in the spot market and falling semi-finished steel prices have resulted in a drop in the company’s re-bar offers, sources said.
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