Weak demand weighed on the induction furnace (IF) route rebar market amid slow trading on the spot market on 17 Jun’21. Prices declined further by INR 100-500/t d-o-d in all the major markets. Weak semi-finished steel prices in north and central India have impacted buying sentiments. The prevailing scenario indicates that rebar prices are expected to remain under pressure for the time being, SteelMint learnt from market sources.
Leave a Reply