Indian Re-bar prices in South might rise on power cut

TMT manufacturers
in Bangalore, Karnataka told SteelMint about indefinite power cut in Hindupur
Industrial region, a prime manufacturing region for consumption in Karnataka.

“We anticipate
Re-bar prices to show some upward trend in the beginning of next week because
Hindupur region near Bangalore is witnessing power cut of around 35%-40%.  

Power cut
happens for six to ten hours and on any three days of the week. Markets
witnessed a rise of Rs 400/MT in TMT offers today”, said manufacturers.