India’s induction furnace (IF) steel market witnessed a minor correction in prices on 12 April, 2024, as offers floated by the mills decreased in the range of INR 100-550/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices dropped by INR 200-300/t. Odisha’s Jharsuguda market witnessed the sharpest drop.
Billet prices fell in the range of INR 100-550/t, with the Durgapur market witnessing the steepest fall.
Rebar (Fe 500) offers declined in the range of INR 100-400/t across regions, with the Goa market witnessing the steepest fall.
Trading activities remained slow today owing to lacklustre market sentiment. Buyers chose to stay on the sidelines amid declining prices and uncertain market trends.
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BigMint’s price assessment (Region wise)
