While longs remained slightly supported by the production cuts from mills, flats were not so lucky in a week turned sluggish by Holi, the year-end and liquidity crunch. In longs, trade-level blast furnace-(BF) route rebar prices remained mostly stable w-o-w, rising in select markets. As a result, prices rose a nominal INR 300/tonne ($4/t) to INR 52,700/t ($632/t), which slightly upped the longs index. In the project segment, prices remained inert at INR 50,000-50,500/t ($600-606/t), which did not allow the long steel index to rise beyond 0.67% w-o-w.
