Central India-based rebar producers slash offers by INR 500/t

A few manufacturers in Chhattisgarh’s Raipur have reduced rebar offers by INR 500/t due to sluggish demand and falling sponge iron and semi-finished steel prices. Current rebar (10-25 mm) offers stand at INR 50,000/t exw, excluding GST at 18%. The current conversion spread for rebar producers (from 100mm billet to 12mm rebar) is assessed at INR 4,500-5,000/t, SteelMint notes.