Mumbai based prominent induction grade rebar manufacturers have sharply reduced their offers by INR 1,000/t. The current rebar offering for 10-25 mm size stands at INR 44,000/t exw. This is the third price drop in this week and overall INR 2,900/t has been decreased in rebar against last week. The offers have been reduced owing to declining raw material prices as well as the need for maintaining price parity with the surrounding markets, trade participants reported to SteelMint.
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