India’s induction furnace (IF) steel prices showed variation on Tuesday, with mills adjusting their offers by INR 50-350/tonne (t) d-o-d across various markets compared to the previous trading session.
Sponge iron prices hiked by INR 50-350/t in most regions, except in the Bellary market, where prices saw a decrease of INR 100/t.
Billet prices increased by INR 150-300/t, with the sharpest hike observed in the Ramgarh market.
Rebar (Fe 500) offers varied by INR 100-300/t, with a significant increase of INR 300/t in the Durgapur market, while prices dropped by INR 200/t in the Chennai, Ahmedabad and Mumbai markets.
Today, the steel market remained slow, with limited transactional activity due to Vishwakarma Jayanti. Buyers adopted a wait-and-watch strategy, and the market is expected to remain volatile in the near term.
Click here for rebar brand-wise details
BigMint’s price assessment (region-wise)
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