- IF-route rebar demand continued to remain strong for the second straight day in Raipur which resulted in sellers raising their offers by INR 200/t to INR 51,600/t. SteelMint recorded around 5,200 confirmed deals today.
- Meanwhile, rising sponge iron and steel billets prices also supported the rebar price hike.
- The conversion spread from billet (100mm) to rebar (10-25mm) currently stands at INR 3,000-3,300/t.
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