Raipur (Chhattisgarh)-based Real Ispat & Power Ltd (GK TMT) has reduced its rebar price today by INR 500/t. Current offer for 12-32 mm rebar stands at INR 48,500/t exw. Rebar price witnessed a decline of total INR 1,500/t in the last couple of days. Lack of buying inquiries and falling raw material (sponge iron/billet) prices led to a drop in the company’s rebar offer, sources reported to SteelMint.
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