The HRC-Rebar spread has remained in negative zone for the entire first quarter (April-June, 2024). It eased a bit in June,2024, from May’s record low. But still, Hot rolled coils (HRC) continued to be sold cheaper compared to Rebar with the spread at a negative INR 3,600/tonne ($43/t), reveals data maintained with BigMint. HRCs are sold at a premium of around INR 4,000/t ($48/t) to rebar. In June, benchmark rebars fell 1.55%, to INR 57,400/t ($687/t) against INR 58,400/t ($699/t) in May. HRCs also dipped, but by a minuscule 0.55%, to INR 53,800/t ($644/t) compared to INR 54,100/t ($648/t) in May.
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