Price gap between IF and BF route rebar narrows down to INR 1,000/t in Western India

Rebar prices in India’s western region reveal a gap of around INR 1,000/t between induction furnace (IF) and blast furnace (BF) route rebar (Fe-500D grade), as per SteelMint assessment. Currently, spot trade prices are at INR 48,500/t and INR 49,500/t for IF and BF route materials respectively, on exw-Mumbai basis. A few trade channels have even equalised the gap between BF and IF grade rebar by concluding minor quantities of BF (500D) material at INR 48,500/t in the retail segment. The existing gap either permits limited scope for strengthening of IF route rebar prices or else BF grade prices are expected to remain supported within an estimated range, as per SteelMint reports.