Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, have decreased d-o-d today. Offers floated by the mills fell up to INR 500/t.
Sponge iron prices fell by INR 100/t today. Around 9,600 t of trades happened at INR 30,100-30,400/t DAP Durgapur.
Billet prices decreased by INR 350/t and around 4,900 t of trades were recorded at INR 44,800-45,000/t DAP Durgapur.
The finished long steel segment saw prices decreasing by INR 500/t. Sellers quoted offers for rebar (Fe 500) at INR 48,400- 48,600/t, while wire rod (5.5mm) offers were at INR 48,500-48,600/t exw Durgapur. In all, around 4,000 t of deals were tracked by SteelMint today.
Prices went downhill today on low demand for finished steel in the region, SteelMint understands. Spot trades were moderate as buyers remained cautious about bulk bookings, especially for finished long steel products.
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