Price gaps between BF:IF-grade rebar had almost bridged to INR 1,000-1,500/t around a month back. However, these are normalizing and may soon touch their usual levels of around INR 2,500/t since IF-grade prices are dipping while BF-grades are rising. In mid-September, mills had raised list prices by up to INR 1,000/t and are bracing for further hikes of INR 500-1,000/t in October, with the rupee sliding to 82 against the dollar, which will raise coking coal import costs.
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