India: Secondary rebar price increases further by up to INR 600/t ($8)

Induction grade rebar prices remained supportive on moderate demand amid continuously rising semi-finished steel prices. In most of the regions, prices moved up by INR 100-600/t d-o-d. Higher raw material prices (scrap/sponge iron) and appropriate transactions in semi-finished steel specifically in the Central region, may further support rebar prices.