Induction furnace (IF) route rebar prices declined further by INR 100-400/t today in most markets in the north, east and central parts of the country, SteelMint assessment reveals. Rebar manufacturers in the western and southern regions kept prices stable, offering trade discounts depending upon buying enquiries. Weak semi-finished steel sentiments and dull buying interest owing to heavy rainfall in many cities lowered trade activities in the spot market. Going forward, rebar prices are expected to remain under pressure, SteelMint notes.
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