Dull demand for rebar due to the seasonal slowdown in construction activities and falling billet prices continue to weigh on TMT prices, as per latest SteelMint reports. Jalna, Maharashtra-based Kalika TMT and Polaad TMT have both reduced rebar (10-25 mm) prices by INR 500/t to INR 47,000/t, exw (excluding taxes). Rebar prices are likely to remain under pressure in India’s western region on dull demand during the monsoon season which is already affecting spot trading activity. Moreover, rising inventories at mills are pressuring manufacturers to adjust prices as per market requirements and raw material prices.
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