India’s induction furnace (IF) steel market witnessed an upward trend in prices. Offers floated by the mills increased by INR 950/tonne (t) d-o-d on 1 April, 2024.
Sponge iron prices edged up by INR 100-500/t. Prices rose by INR 500/t in the Raipur market.
Billet prices increased by INR 200-950/t. The Ramgarh market saw an increase of INR 950/t in prices today.
In addition, rebar (Fe 500) offers rose in the range of INR 100-400/t. Prices in Durgapur were up by INR 400/t d-o-d.
The finished long (rebar) steel market saw active demand especially in the central and eastern regions, which led to a surge in offers followed by a rise in prices in the northern region during the first half of today’s trading, BigMint notes.
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SteelMint’s price assessment (Region wise)