India: Rebar prices drop marginally d-o-d in Raipur despite active buying enquiries

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IF-route rebar prices declined by INR 200/t to INR 48,500/t exw in Raipur.
3,000 t of deals were concluded at a price range of INR 48,300-48,700/t, down 23% compared to yesterday.
Sources said that active buying enquiries were seen in the spot market. But due to the offer-bid disparity and slow offtake, inventories were higher by as much as 40-50% against the average maintained level.

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