Improved buying and some re-stocking by traders have made re-bar manufacturers to raise their offers by Rs 300-400/t.Traders anticipates demand to improve in September when construction activities revive.
“12mm offers are in the range of Rs 33500-600/t (ex-works) where as some other prime manufacturers are quoting Rs 34,100/t (ex-works).It is difficult to say if prices will rebound from current levels but certainly it will not fall much from these levels.” said a large steel trader based in Raipur (Chattisgarh).
Re-bar prices in other parts of India also kept stable.
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