India’s induction furnace (IF) steel market witnessed positive price trends, while offers across mills rose by INR 500/tonne d-o-d on 24 March, 2023.
Sponge iron prices edged up by a wide range of INR 10-300/t. Prices rose by INR 300/t in the Durgapur market.
Billets prices increased in the range of INR 100-300/t. Prices rose by INR 300/t in the Raigarh and Durgapur market today.
In addition, rebar (Fe 500) offers rose by INR 100-500/t. Prices remained elevated in Chennai by INR 500/t.
Overall, the market continued to witness an upward trend today in semi-finished and finished long segments because of strong price trends across regions. Trades were moderate today as no bulk bookings appeared from the buyers’ side. Market participants are expecting an improvement in finished long sales in the coming days. SteelMint noted.
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SteelMint’s price assessment (Region wise)
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