India’s induction furnace (IF) steel prices showed slight variations on 3 September, 2024. Offers announced by the mills fluctuated by INR 100-250/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices hiked by INR 100-200/t across the regions except price drop seen in Hyderabad and Bellary market by INR 150/t.
Billet prices fluctuated by INR 100-250/t. The sharpest drop in Jalna and Chennai was around INR 200/t d-o-d, while the major increase was seen in the Raigarh market by INR 250/t.
Rebar (Fe 500) offers increased by INR 100-200/t across regions except in Jalna where prices dropped INR 300/t d-o-d.
Today, moderate trade activities were seen amid slight rise in prices varying upon location. However, need-based buying was evident in the market in the finished steel market. According to sources, the market is expected to remain within a definite range.
Click here for rebar brand-wise details
BigMint’s price assessment (region wise)
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