The HRC-rebar (blast furnace route) spread reversed to a record INR – 3,400/tonne (t) in February 2023, reveals SteelMint’s data. Hot rolled coil (HRC) prices traditionally are sold at a premium to rebar. The spread started reversing from December, last year and February saw rebars averaging INR 63,000/t against HRC’s INR 59,600/t.
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