India: Rebars prices drift down by INR 300/t d-o-d on limited trading

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Induction-route rebars prices were corrected by INR 300/t to 47,700/t exw in Raipur. Despite correction no active booking came in the spot market.
Only 1,300t transaction recorded by SteelMint in today’s trading window in the price range of 47,500-48,000/t.
Stakeholders informed that buyers were willing to book material at lower rates. Hence, there was a disparity between offers and bids by around INR 300-400/t.

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