Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, witnessed an uptick today. Offers floated by the mills rose up to INR 700/t.
Sponge iron prices increased by INR 100/t today. Around 8,400 t of trades happened at INR 29,700-30,000/t DAP Durgapur.
Billet prices increased by INR 550/t and around 4,800 t of trades were recorded at INR 44,700-44,900/t DAP Durgapur.
The finished long steel segment saw prices increasing by INR 700/t. Sellers floated offers for rebar (Fe 500) at INR 48,500- 48,700/t, while for wire rod (5.5mm) offers were at INR 48,500-48,700/t exw Durgapur. In all, around 3,500 t of deals were recorded by SteelMint today.
Prices went up following a recovery in prices in the northern region in early trading today. However, trades remained moderate for finished long steel compared to yesterday, while the semis segment saw stable trade volumes. The rise in prices was a good indication for the market which is expected to boost trades and offers, sources informed SteelMint.
Leave a Reply