“Indian Re-bar demand stagnant ; prices might correct soon” – Traders

Re-bar prices seemed to calm down after a long rally on slow
demand. Prices were expected to show an uptrend  after the hike in excise duty of 2% but have
fallen due to stagnant market demand for finished.

“The finished market sales is not expected to  show too many changes. There was not much of
buying and selling in the market from last few days due to Indian festive
holidays which is still dull. Market would open with a fall in prices next week,” said a manufacturer from Ahmedabad. 

Raipur,
Primegold  Re-bar prices alongwith that
of Jalna have fallen by Rs. 500/t within few hours. Hyderabad Re-bar prices quoted
at Rs. 41,200/t (Ex works) might fall further.