India: Rebar prices rise by INR 500/t in central India on improved demand

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IF-route rebar prices marginally up by INR 500/t d-o-d in central India’s Raipur market following improved buying interest from retailers.
About 2,450 t of transactions were recorded by SteelMint in the price range of INR 48,200-48,500/t in today’s session.
A few reliable trade participants informed that price enhancement in raw material (sponge & billet) pushed up rebar prices. Further, conversion margin from Steel Billet to Rebar currently exist at INR 3,800-4,200/t exw (10-25mm).

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