Tag: India: Primary steel mills raise rebar prices for project sales by INR 1

Indian primary steel mills have increased contract prices of rebars to the tune of INR 1,000/t ($12/t) for early-October 2022 sales, sources informed SteelMint. Post-revision, the effective prices stand at around INR 56,000-56,500/t ($686-693/t) on FOR Mumbai basis. What factors are lending support to the project-level prices? 1. Record demand for housing continues: Fuelled by…