On September 21, SteelOrbis reported the expectation that Indian domestic rebar prices would increase in October.
According to recent reports, large Indian rebar mills have announced increased prices by INR 1,000-1,500/mt. Prices at the large firms are now reportedly at INR 44,500/mt ($604/mt) ex-works in Chennai, on the southeast coast of India.
USD = INR 68.72 (Jul 2)
USD = INR 73.68 (Oct 3)