- Mills increase offers, but buyers show resistance
- Finished segment continues to face sales pressure
India’s induction furnace (IF) steel prices increased today, with mills raising offers by INR 50-500/tonne (t) d-o-d.
Sponge iron offers climbed up by INR 50-350/t d-o-d, with the steepest rise of INR 350/t taking place in the Raigarh market. Only in Hyderabad market where prices were marginal fall of INR 100/t as seen.
Billet tags increased by INR 100-350/t d-o-d across locations, with the sharpest hike seen in Duragpur.
Rebar (Fe 500) tags moved up by INR 100-500/t d-o-d. Prices rose the highest in Hyderabad, by INR 500/t.
Today, the market witnessed limited inquiries. Mills tried to lift prices, but minimal transactions were observed at the current values, though this varied according to location. Additionally, the market remains under pressure in terms of sales, specifically in the finished segment.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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