- IF market witnesses mixed trends
- Rebar up by INR 100-400/t d-o-d
India’s induction furnace (IF) steel market witnessed mixed price trends across commodities today. Mills’ offers varied by up to INR 100-400/tonne (t) compared to the previous trading session.
Sponge iron prices fluctuated in the range of INR 100-200/t. The sharpest increase of INR 100/t was seen in Hyderabad and Bellary. while a price drop of INR 200/t was noticed in the Chennai market.
Billet prices fluctuated in the range of INR 100-300/t. The sharpest increase of INR 300/t was seen in Hyderabad and Mumbai. while a price drop of INR 100/t was noticed in Mandi Gobindgarh and Raigarh markets.
Rebar (Fe 500) prices increased slightly by INR 100-400/t d-o-d. Prices rose the highest in Raipur, by INR 400/t.
Limited buying activity was observed in the market, with buyers procuring material cautiously while awaiting further clarity on price trends. Manufacturers adjusted their trade-level prices based on order flows. Market participants expect prices to remain range-bound in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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