India’s induction furnace (IF) steel market witnessed mixed sentiments, with mill offers moving within INR 50-500/tonne (t) d-o-d.
Sponge iron prices fluctuated by INR 50-200/t d-o-d, with the highest rise of INR 200/t seen in Durgapur.
Billet tags varied by INR 50-300/t d-o-d, with the steepest fall of INR 300/t recorded in Chennai. However, in Durgapur, prices witnessed a rise of INR 100/t.
Rebar (Fe 500) prices decreased in the range of INR 100-500/t d-o-d. The sharpest drop of INR 500/t was seen in Chennai. However, prices climbed up by INR 100/t in Delhi and Raigarh.
Today, limited trade activities were seen which varied across locations. There was lack of momentum in the finished steel segment which pressured sellers to adjust trade discounts. As per market participants, prices are likely to remain volatile in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply