Secondary rebar market today observed limited demand and buying inquiries, following which most of the rebar manufacturers from major supplying regions reduced their offer by INR 200-900/t d-o-d. Meanwhile, several rebar producers in northern and western regions have closed their bookings owing to sharp recovery in semi-finished (ingot/billet) steel prices. Current trade reference price for 10-25 mm stands at INR 44,200/t exw Raipur and INR 48,800/t exw Jalna.
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