- Limited buying inquiries were spotted today
- Billet offers drop by INR 100-300/t
India’s induction furnace (IF) steel market witnessed a dull sentiments today, with mills’ offers down by INR 100-350/tonne (t) d-o-d.
Sponge iron offers were decreased by INR 100-350/t d-o-d and the major drop of INR 350/t in Raigarh market.
Billet prices dropped in a range of INR 100-300/t d-o-d across the locations except in Mumbai where price inch up by INR 100/t.
Rebar (Fe 500) tags decreased by INR 100-300/t d-o-d with the steepest fall in Delhi market by INR 300/t.
Today, limited buying was seen in most regions. Mills were trying to push the prices higher, specifically in the trading session in the second half, but minimal transactions were observed at current price levels. As per participants, prices are likely to move in a narrow range.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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