Jalna-based rolling mills have sharply reduced rebar offers by INR 2,000/t ($27) d-o-d basis after hitting record-high since Sep’10 as per the data maintained with SteelMint. Current trade reference price is hovering at INR 50,500-50,700/t for 10-25 mm size. The manufacturers decreased prices owing to lack of buying inquiries since the last few days as the prices were much higher compared to the prices in the other regions, trade participants reported to SteelMint.
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