Induction furnace (IF) grade rebar prices are on an upswing for the second day in a row on rising semi-finished steel prices in the leading markets in north and central India. Manufacturers in these regions, along with those in the eastern region, increased their offers, with a hint of improvement in buying inquiries. However, weak demand and high inventories at mills in the western region kept rebar prices under pressure. Going forward, billet price movements are expected to influence rebar prices, as per sources.
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