- Limited trading session as witnessed today
- Mills reduce offers amid high sales pressure
India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 50-500/tonne (t) d-o-d.
Sponge iron offers dropped by INR 150/t d-o-d across the locations.
Billet tags decreased by INR 100-500/t d-o-d and the steepest fall in Ahmedabad market by INR 500/t.
Rebar (Fe 500) tags moved down by INR 100-300/t d-o-d. Prices dropped the highest in Jalna, Chennai, Mumbai and Delhi by INR 300/t.
Today’s session witnessed limited trading. Buyers preferred to book material as per their needs only. Amid increased selling pressure, mills preferred either to reduce offers or adjust their trade discounts. Market participants expect prices to remain rangebound.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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