Tag: India: Primary-secondary rebar spread narrows as exports decline

The trade level price gap between blast and induction furnace-route rebar, which had widened to a record over INR 10,000/t ($132/t) levels in Nov’21, narrowed sharply in December to around INR 6,800/t ($90/t). Average ex-Mumbai BF-route prices in the current month are at INR 56,000/t ($741/t) against IF’s INR 49,200/t ($651/t), exclusive of 18% GST.…