Induction grade rebar market witnessed an uptrend today, owing to rising semi-finished steel prices. In major markets of North, East and Central regions, rebar price increased by INR 250-500/t d-o-d while in the Western and Southern regions (except Chennai) moderate buying inquiries and trades in rebar steel along with slight recovery in billet prices pushed manufacturers to either keep their offers stable or adjust the discount offer as per the requirement, sources reported to SteelMInt.
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