- Induction furnace-route rebar prices dropped by INR 400/t to INR 50,500/t exw in Raipur. Declining raw material prices (sponge iron and steel billets) and lack of buying enquiries weighed on rebar offers.
- A few reliable sources informed that due to selling pressure, manufacturers reduced prices but sales did not improve.
- The conversion spread from steel billet (100 mm) to rebar (10-25mm) is currently hovering at INR 3,000-3,200/t in Raipur.
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