With Indian steel re-bar prices corrected almost Rs 1,500/t in last 2 weeks, have seen some buying interest coming up at these levels, report market traders.
“There is certainly some buying at these levels.A major TMT brand in central India had managed to book around 700-800 MT when it opened its prices at Rs 35,000/t (Basic 12mm Ex-Raipur) yesterday.” said a trader based in Bhopal.
Another trader reports SteelMint that these levels look attractive and stockist and traders might look to take positions in re-bar, although demand for structural steel is not very encouraging.
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