The Durgapur market in eastern India, a leading rebar supply hub that caters to the entire north and north-eastern regions as well as a few neighbouring states, has seen rebar conversion spreads sink to an 11-year low in Sep’21, SteelMint data shows. The monthly conversion spread was recorded at INR 1,900/t, which is down 9% against Aug. The day-on-day conversion spread currently hovers at INR 3,000-3,200/t.
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