India: Primary mills raise rebar prices for Oct’21 on higher coke, coal prices

Blast furnace route rebar prices surged by up to INR 4,500/t for Oct’21 deliveries as the primary mills announced hike in prices. The major factor behind the hike was higher coal and coke prices, not to forget the narrowing gap between IF and BF rebar prices. Current rebar (Fe 500 D, Fe 550D,,12-32 mm) offers are at INR 56,000-56,500/t exy-Mumbai, excluding GST.