Conversion spread from billet to rebar in Raipur hit the lowest since Jan ’14, as per the data maintained by SteelMint. Conversion spread in Raipur from billet (100*100 mm) to rebar (10-25 mm) is recorded at INR 2,219/t in Nov ’20, down sharply by around 10% against INR 2,456/t in Oct ’20. Till yesterday’s closing, it was at INR 2,750/t which is still below the required conversion spread, market participants said.
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