India: Poor sales and liquidity in market might force manufacturers to cut Re- bar prices

Tuesday, January 25,

TMT prices remain almost same at most of the major mandis’. Buying interests is also low due to lesser construction activities. 

Comments by:

Trader: “Demand of TMT could be scaled between average to poor at mandis’ like Mumbai, Durgapur and Raipur. Traders remain cautious over high prices, retail sales remain below average as buyers prefer to’ wait and watch’.

Manufacturers: “Prices might go down further if market stays weak for next few days as stock will be blocked with manufacturers and they will be forced to sell at discounted rates in order to maintain their working capital.