Induction furnace (IF) grade rebar prices declined today by up to INR 600/t in most of the major supply centres in India, SteelMint assessment shows. Subdued demand and trade in the spot market as well as weak semi-finished steel sentiments resulted in a drop in rebar prices across regions. Prices in the near-term may remain under pressure due to lack of adequate buying from the retail and project segments, sources informed.
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