Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, saw mixed trends today. Offers across mills marginally increased in semi-finished and inched down in finished long segment.
Sponge iron prices increased by INR 150/t today. Around 5,000 t of trade happened at INR 29,700-30,000/t DAP Durgapur.
Billets prices rose by INR 100/t and around 4,000 t of trade recorded at INR 44,800-45,000/t DAP Durgapur.
On the other hand, the finished long steel segment saw prices decreasing by INR 200/t. Sellers floated offers for rebars (Fe 500) at INR 48,300-48,700/t. Meanwhile, for wire rods (5.5mm) offers were at INR 48,500-48,800/t exw Durgapur. In all, around 3,400 t of deals were recorded by SteelMint today.
Market witnessed a fluctuating trend as northern region prices which went up initially did not sustain throughout the day. Spot trades were moderate as buyers are being cautious for bulk bookings. Participants are hoping for some price correction and an improvement in trades in upcoming days, as per SteelMint’s assessment.
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