India: Secondary mills’ rebar prices increase up to INR 700/t ($9)

Indian rebar prices via induction route increased by INR 400-700/t d-o-d except in the central region (Raipur), SteelMint learned from trade participants. The current trade price for rebar (12 mm) is assessed at INR 37,300/t Raipur, INR 40,200/t Jalna exw. With manufacturers having adequate future booking orders in hand, and higher raw material cost, the rebar prices are likely to remain supported in the near term.