India's HRC-rebar reverse spread widens again in Mar after 3-mth gap

Supply crunch causes upswing in HRC, BF rebar prices. Markets turn buoyant on 12% safeguard duty proposal. Rebar tags to surge in Apr'25, HRCs may face pressure.

Morning Brief: India's HRC-rebar reverse spread widened again in March 2025, after three months of contraction. The price gap between hot-rolled coils (HRCs) and blast furnace (BF) rebars stood at INR - 4,600/tonne (t) ($54/t) last month compared to INR - 4,400/t ($51/t) in February, a difference of INR -