Induction grade rebar prices fell by INR 1,500/t over a week and INR 800/t yesterday. As per the sources, dull demand for rebar from the last few days and continuously falling billet prices pushed manufacturers to reduce their offers. With lockdown in Raipur to control the second wave of COVID-19, steel prices may remain under pressure as lifting of material is likely to remain slow. The latest offers for 12-25 mm, IS 1786- 500 Fe rebar stand at INR 44,000/t exw Raigarh.
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