Author: Sagar
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India: Billets to wire rods spread drops up to 26% m-o-m in Jun’21
The margins for converting billets into wire rod (also called conversion spread) dropped by 6% and 26% in Raipur and Durgapur respectively in Jun’21, as per SteelMint’s assessment. The monthly average conversion spread was at around INR 3,500/tonne (t) in Raipur and INR 3,210/tonne (t) in Durgapur throughout the month. However, in May’21, the conversion…