Secondary rebar prices remain stable in major Indian markets

Induction grade rebar prices witnessed stability in most of the major supplying regions in India, SteelMint assessment shows. However, in few markets, rebar prices decreased by up to INR 300/t d-o-d owing to dull sentiments and limited buying inquiries in the spot market. Thin trade activities and COVID-19 restrictions in many states are likely to impact rebar demand and prices in the near-term, trade sources highlighted.