Induction furnace (IF)-origin semi-finished steel prices in West Bengal’s Durgapur increased today as offers floated by the mills rose up to INR 600/t.
Sponge iron prices increased by INR 450/t today. Around 5,300 t of trade happened at INR 31,300-31,500/t DAP Durgapur.
Billet prices rose INR 600/t. Sellers increased offers amid active demand today and around 3,350 t of trades were recorded at INR 47,100-47,200/t DAP Durgapur.
Finished long steel prices increased by INR 600/t. Sellers floated offers for rebar (Fe 500) at INR 50,500-51,000/t and wire rod (5.5mm) at INR 50,300-50,500/t exw Durgapur. Collectively, around 3,200 t of deals were recorded by SteelMint in today’s trading window.
Prices rebounded on active demand in both the semi-finished and finished longs segments. Sellers raised offers as enquiries coming from buyers, especially for semis increased. Trades improved compared to yesterday as buyers sought to maintain their inventories before the festive break.
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