India: Raipur based mid-scale mills raise rebar offers by INR 2,000/t ($27)

Mid-scale rolling mills in Raipur, Chhattisgarh have significantly hiked rebar offers by around INR 2,000/t d-o-d after yesterday’s meeting. The current offer for 10-25mm rebar stands at INR 41,500/t. Rebar prices have increased owing to the price rise in other competitive markets and healthy transactions amid reasonable costing. Maintaining conversion spread (margins) was also one of the reasons for this hike, SteelMint understands.