Major mills in western India cut rebar prices sharply

Weak buying enquiries continue to weigh on rebar prices in the Indian market, as per SteelMint assessment. A major private mill in Jalna and Mumbai, Maharashtra, have slashed rebar prices by up to INR 1,200/t. The current offer for 10-25mm rebar (Fe 500 grade) stands at INR 62,500/t exw Jalna and INR 63,400/t exw Mumbai, excluding GST.