- Prices rise today but limited trades noted
- Tags likely to be range-bound in near term
India’s induction furnace (IF) steel prices rose d-o-d on 10 January 2025. Mills raised offers by INR 100-400/tonne (t) across markets compared to the previous trading session.
Sponge iron prices registered a d-o-d increase of INR 100-150/t, and the steepest hike was observed in the Durgapur market while prices inch down in Raipur market by INR 50/t.
Billet offers varied by INR 50-200/t d-o-d.
Rebar (Fe 500) tags climbed up by INR 100-200/t d-o-d; the highest increase was recorded in Raigarh, Raipur and Durgapur markets.
Today, limited trade activities were observed in the spot market. Prices increased, as yesterday, there was a slight improvement in inquiries, specifically in central and northern India. As per market participants, momentum is still lacking in terms of healthy sales, and prices are likely to remain range-bound.
BigMint’s price assessment (region-wise)
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