Induction grade rebar prices fluctuated by INR 300-500/t on a d-o-d basis in major markets of western region. However, moderate demand and recovery in semi-finished steel (ingot/billet) prices by INR 200-600/t led rebar manufacturers of other regions to hold their offer or marginally adjust the trade price by INR 100/t depending upon the requirement in the market. Higher global raw material prices and price hike by Indian primary mills may keep secondary rebar prices range-bound in the near term, sources shared with SteelMint.
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