India’s induction furnace (IF) steel prices continued to edge up on 28 June, 2024. Offers announced by the mills increased by INR 100-900/tonne (t) d-o-d across markets compared to the previous trading session.
Sponge iron prices rose by INR 100-900/t, with the highest increase seen in Odisha’s Rourkela market.
Billet prices increased by INR 200-750/t, with the sharpest rise seen in Raipur.
Rebar (Fe 500) offers increased in the range of INR 200-400/t across regions.
An improvement in market sentiment was observed today as average trading activity was seen in the spot market. Sellers hiked offers which created panic among buyers who chose to procure before prices increased but they steered clear of bulk bookings amid unclear market trends. As per sources, such volatility in prices may persist in the near term.
Click here for rebar brand-wise details
BigMint’s price assessment (region wise)
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