Wednesday, March 23,
Re-bar prices in India went up Rs 200-300/MT. However, buying from end users haven’t picked up well..*According to traders based in Chennai, “Shortage of scrap in Chennai has hiked the prices of Billet and as a result TMT prices are also going up.
Market players say interpreting the reason for poor demand is still a bit difficult. As, in theory it should get better now and construction should pick up. But factors like liquidity crunch, financial year end has subdued the activities in the market. A clear picture is said to be attained in the coming month as market might take some direction then.
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