Indian producers of longs, who were forced not to change prices inearly December amid non-existent buying activity, have changed thetactics and started testing market with higher offers. Re-rollers were thefirst who took such moves as demand from traders became somewhatstronger in view of low stocks and higher raw materials costs, so theyhave increased domestic rebar quotations by $11-22/t incl. slightcurrency fluctuations (INR 500-1,000/t) and wire rod ones . by $44-56/t(INR 2,000-2,500/t). Besides, the fact that consuming industries areexpected to raise purchases in January-February also supports the currentgrowth.
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