India’s induction furnace (IF) steel market noticed an upward price trend. Offers rose in the range of INR 200-1,500/tonne (t) d-o-d on 27 December.
Sponge iron prices increased in the range of INR 200-600/t. The maximum hike of INR 600/t was seen in the Mandi Gobindgarh market.
Moreover, billets offers rose in the range of INR 200-1,500/t. The maximum price increase of INR 1,500/t was seen in the Jalna billets market.
Also, rebar (Fe 500) prices moved up in the range of INR 200-1,000/t across regions. The maximum hike of INR 1,000/t was seen in the Mujaffarnagar market.
Overall, the semi-finished market witnessed a marginal rise in offers. Also, finished steel prices saw a hike across regions. Trade was moderate throughout the day as buyers remained cautious for bulk booking.
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SteelMint’s price assessment (Region wise)
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