Induction furnace grade re-bar prices remained stable in major markets today, as per SteelMint assessment. However, in a few markets, TMT manufacturers tried to marginally increase offers by INR 100-200/t, d-o-d, but dull market sentiments and limited buying enquiries in the spot market didn’t support the higher price range. Marginal changes in raw materials prices (sponge iron and billet) and a few transactions in re-bar in the last couple of days have lent some support to sellers to maintain current price levels despite low buying enquiries and spot trading, sources said.
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