UTC+8 ( BJT)

India: HRC-rebar price spread hits record high in May

ABSTRACT

Steel prices have been heading north since October last year. However, SteelMint’s data, tracking since May ’20, show that except for the months of May and June ’20, hot rolled coil (HRC) prices have continued to remain higher than those of rebar till May ’21. More importantly, the spread hit a record high of INR 11,000 per tonne (t) in May ’21, based on average monthly price calculations.
In May and June ’20, average monthly prices of the blast route rebar of 12-32 mm were higher, by INR 1,130/tonne (t) and INR 1,100/t respectively compared to that of HRCs of 2.5-8mm, ex-Mumbai. The spread was somewhat volatile since May ’20 till Dec ’21, with the monthly difference ranging from

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