Blast furnace route re-bar prices remain stable for Sept'21 deliveries in most major markets, as announced by a few large mills, as per SteelMint assessment. The major factor that has contributed to stable prices is weak sentiments in the induction furnace re-bar market, with prices declining by INR 2,000/t in Aug'21. However, BF re-bar prices moved up by around INR 2,000-2,500/t within the same time frame. The spread between BF and IF re-bar prices widened by up to INR 7,000/t at specific locations, as per reports. Current re-bar (500/550D, 12-32 mm) offers are at around INR 51,500-52,500/t exy-Mumbai, excluding GST.
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