Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal decreased today. Offers across mills fell by up to INR 400/t.
Sponge iron prices fell by INR 100/t today. Around 4,800 t of trade happened at INR 29,700-29,800/t DAP Durgapur.
Similarly, billets prices decreased by INR 100/t and around 4,600 t of trade recorded at INR 44,500-44,700/t DAP Durgapur.
The finished long steel segment saw prices decreasing by INR 400/t. Sellers floated offers for rebars (Fe 500) at INR 47,800-48,300/t, while for wire rods (5.5mm) offers were at INR 47,800-48,200/t exw Durgapur. In all, around 4,000 t of deals were recorded by SteelMint today.
In addition, today market prices showed downward trend again on low demand of finished steel in this region. Spot trades were low to moderate as buyers are on a wait-and-watch mode amid falling prices. Demand needs to be improved especially in finished long segment so that prices and offers remain on the positive side in coming days.
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