Tier-1 mills roll over rebar list prices: Keeping the current subdued market dynamics in mind, tier-1 mills rolled over their list prices of rebar for early March deliveries. As a result, landed prices remained at INR 52,000-53,000/t ($628-640/t). Trade-level rebar prices rose by INR 300/t ($4/t) w-o-w to INR 51,900/t ($627/t) exy-Mumbai. Project segment prices seem to have bottomed out and are inert at INR 49,500-50,000/t ($598-604/t). The overall flatness in rebar stemmed from the fact that buying was very need-based. Infrastructure investments have slowed down ahead of the elections this year. Plus, there are liquidity issues this being a financial year-end.
