The price spread between Indian hot-rolled coil (HRC) and blast furnace (BF)-route rebar prices narrowed sharply to INR 5,300/tonne (t) in August from an over 4.5-year high of INR 8,800/t in July. The contraction was driven by a much stronger rise in rebar prices, as maintenance-led supply constraints and improved retail and project bookings lifted rebar prices.
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