India’s induction furnace (IF) steel prices witnessed mix trend today, with mills varied offers by INR 50-300/tonne (t) d-o-d.
Sponge iron offers were seen variation by INR 50-300/t d-o-d, with a steep rise of INR 300/t heard in the Hyderabad and major drop seen in Raigarh and Jharsuguda markets by INR 100/t.
Billet prices decreased in the range of INR 100-150/t d-o-d and with a major downfall of INR 150/t in Raipur and Raigarh markets.
Rebar (Fe 500) tags decreased by INR 200/t d-o-d in major locations.
Today, limited buying activities was seen as prices increased. Sufficient trade volumes were recorded over the last couple of days. Therefore, buyers are resisting higher price levels. As per market participants, prices are expected to remain rangebound in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply