Primary re-bar prices routed through blast furnace improved by INR 500-700/t in most of the major markets whereas a couple of locations saw prices staying rangebound, as per SteelMint assessment. Factors that have contributed to the price rise are limited stocks at stockyards, specific size shortage and average material offtake for projects. A nominal hike of INR 500/t announced by a state-owned mill is supporting prices. The current re-bar (12-32 mm) trade reference price is assessed at INR 51,500-52,000/t exy-Mumbai, excluding GST.
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