Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal continued to fall with mills decreasing offers upto INR 700/t today.
Sponge iron prices also dropped by INR 450/t today and around 4,300 t of deals were concluded at INR 30,700-30,900/t DAP Durgapur.
Billet prices witness decrease by INR 200/t. Seller’s reduced offer amid limited enquiries from buyers and around 1,580 t of trade recorded at INR 46,500-46,700/t DAP Durgapur.
Finished long steel prices decreased by INR 700/t. Sellers floated offers for rebars (12-25mm) Fe 500 at INR 50,000 and wire rods (5.5mm) at INR 49,400-49,500/t exw-Durgapur and collectively 3,600 t of deals were recorded by SteelMint on today’s trading window.
The semis market witnessed a declining price trend, while finished steel prices also trended lower. However, later a price recovery in northern region led to improved trade activity in the second half but still finished steel demand was not up to the mark, SteelMint noted.
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