Major induction furnace steel mills in central India cut re-bar prices by INR 1,000/t

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Raipur-based Goel TMT has decreased re-bar (Fe 500D, 10-25mm) prices by INR 1,000/t to INR 54,000/t exw, while GK TMT has cut prices by INR 1,000/t to INR 54,500/t (GST and other charges extra).
Key reasons behind the sharp price cuts are limited trades and the constant fall in sponge iron and billet prices, which fell by INR 500/t and INR 750/t, respectively, d-o-d yesterday.

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