India: Re-bar mills slash prices by up to INR 1,200/t in Raipur, Chhattisgarh

Raipur-based GOEL TMT has slashed prices by INR 1,200/t to INR 61,800/t exw. GK TMT has reduced prices by INR 1,000/t to INR 62,000/t exw. Prices are for re-bar (Fe-500D, 10-25 mm), excluding GST. The key factor behind the sharp correction in prices is the continuous drop in sponge iron and steel ingots/billets prices amid low demand, SteelMint notes.