Induction grade rebar prices have witnessed nominal changes by INR 100-200/t d-o-d in most of the major markets in India. Healthy bookings were reported in few markets of Western region while in other regions, trade activities remained moderate, sources reported. Prices in the near term are expected to remain strong on the back of rising raw material cost and lower production at Maharashtra-based mills as they have cut production by approx 50% due to short supply of oxygen.
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