In a week’s time, Durgapur Semi Finish & Finished Steel market raised by INR 400/MT owing to increased sales of Finished steel products and continuous power cut.

SteelMint Assesed that power cut in Durgapur (West Bengal) for 16-18 hour from past 5-6 days mainly affected the production of Ingot/Billet & Re-bar. Durgapur is mainly supplying Ingot/Billet & Re-bar to Assam, Bihar, Uttar Pradesh, also including North India’s market.

Buying is more or less decent after a long time. Demand from nearby states and power cut have pushed up prices of Semi Finish & Finished steel. However, Sponge iron offers fell by INR 200/MT against last trade.

[su_quote cite=”A native manufacturer based at Durgapur says”]If the situation will continues then, there is possibility of price hike of Ingot/Billet & Re-bar. However, reduction in Sponge iron prices is also possible.[/su_quote]

Semi Finish & Finished Steel Prices in INR/MT as on 25 Jan, 2014