Tag: India’s HRC-rebar spread narrows to all-time low in May’24. Is trend sustainable?

The reverse swing seen on the HRC-rebar pitch became stronger in May 2024. The spread between hot rolled coils (HRCs) and blast furnace-grade rebar last month reversed – or narrowed – to possibly an all-time low of INR 4,200/tonne ($50/t), reveals data maintained with BigMint. This means, rebars were more expensive than HRCs in May,…