Western India: Jalna based rebar mills reduce offer by up to INR 1,200/t ($16)

Jalna (Maharashtra) based renowned rebar mills have decreased their offers by INR 700-1,200/t. Current rebar offer for 10-25 mm rebar stands at INR 43,300-43,500/t exw. As per market participants, prices dropped owing to declining raw material prices and the need to maintain price parity with competitive markets like Raipur in the central region. Notably, Jalna is a major rebar manufacturing hub in western India with an average rebar production capacity of 10,000 t per day by all mills.