Induction furnace (IF) grade re-bar prices remained strong today in most of the major markets in India, SteelMint assessment shows. However, in a few markets, TMT manufacturers preferred to keep offers stable and marginally adjust tradable prices as per market requirements and previous orders. Higher raw material costs and TMT transactions in the last couple of days, which vary from market to market, are supporting the current TMT price level, despite limited buying enquiries and trading, sources said.
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