Induction grade rebar demand in most of the major Indian markets remain weak today. Manufacturers reduced rebar offer by INR 100-1,000/t on a d-o-d basis considering slowdown in demand amid high inventories at mills and delivery of previous booking orders. Also, decreasing semi-finished steel prices and price gap with other competitive markets remained as the major factors that affected the price drop, sources shared with SteelMint.
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