The price of India domestic rebar has increased by INR 2,000 (USD 25) per ton as a result of aggressive buying and higher spot demand. However, if trade sources are to be believed, prices have remained consistent at roughly INR 53,000-55,000 (USD 672-697) per ton despite a little slowdown that began on Wednesday with limited purchasing in several markets.
Around 6,000 tons were moved at Raipur earlier this week, according to Indian mills, indicating that traders have been actively buying. Because they were hoping for a "further decline in present prices," the majority of customers have been delaying their purchases.
"Due to increased buying over the past several days and the end user industry's limited remaining supply due to need-based purchasing, the spot market price has increased. However, volumes in important marketplaces could start to decline in the future "a trade source stated.
He continued, "We anticipate pricing will remain steady or increase, even if enquiries drop. The segment has benefited from the fact that coal prices have likewise been steady and have not fluctuated much recently.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.