The HRC-rebar spread reversed to normalise in August, 2024, after a gap of four months, reveals BigMint data. Usually, hot rolled coils (HRCs) are sold at a premium to rebars. However, it may be recalled, over April-July, 2024, rebar remained consistently priced higher than HRCs. In August, the spread rose a nominal INR 400/tonne ($5/t) with the benchmark trade-level HRC (IS2062, 2.5-8mm) prices averaging INR 50,600/t ($602/t) against the blast furnace-route rebar’s (12-32mm) INR 50,200/tonne ($598/t). Both categories fell m-o-m but rebar a steeper 6% compared to the HRC’s 3%.
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